By Our Reporter
Federation of Nepalese Chambers of Commerce and Industry (FNCCI) held its 60th annual general meeting (AGM) on Monday. Outgoing FNCCI President Chandra Prasad Dhakal reflected on six decades of the federation’s journey and set out a vision for Nepal’s economic future. He highlighted a policy win for the private sector, saying the government passed the Private Sector Promotion and Protection Strategy (PSPPS) at its first cabinet meeting — a demand FNCCI had long pressed for. Dhakal said the strategy will guarantee both physical security for businesses and policy‑level protection that the private sector has lacked for decades.
On the investment front, Dhakal said the Nepal Development Public Limited Company has been established with a paid‑up capital target of Rs 10 billion to mobilise domestic investment for large‑scale infrastructure projects. “This sends a clear message that big projects can be built with homegrown capital and that the narrative of ‘nothing gets done in Nepal’ can be broken,” he said.
Dhakal called for a new phase of economic reforms built on three pillars: legal stability; good governance through the maximum use of technology; and full utilisation of Nepal’s untapped potential in energy, agriculture, tourism and minerals. He urged the government to make the budget for the upcoming fiscal year a genuine departure point for reforms.
He also urged stakeholders to seize what he called a rare and historic opportunity, noting a near two‑thirds majority government is now in place following the March 5 elections to the House of Representatives. “Nepal has the political stability it has long been waiting for and must not waste it as it has in the past. Eighty‑six per cent of employment is still provided by the private sector,” Dhakal said. “Every government body must exist for one purpose, to create an environment for investment.” He pointed out that Cambodia, which joined the World Trade Organization (WTO) at the same time as Nepal, now attracts 10 times more foreign direct investment (FDI). “If they can do it, why can’t we?” he asked.
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