KATHMANDU, Oct 15: International Finance Corporation (IFC) and the Federation of Nepalese Chamber of Commerce and Industries (FNCCI) have agreed to collaborate on examining the state of the private sector in Nepal to showcase the private sector’s contribution to the economy and help inform policy making for private sector development.
The collaboration will notably take the form of a joint report, which will generate data, insights, analysis, and policy recommendations on the development impact of private investments in the country. In doing so, it aims to inform policy dialogues on private sector development issues among government, private sector, development partners and other stakeholders
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“For Nepal to achieve its development objectives, the private sector will need to be further developed and strengthened,” said FNCCI President Shekhar Golchha. “This is possible only through greater and well-informed policy reforms and dialogue between the public and private sectors. Therefore, this report will have a big role in helping in this regard, particularly given that it will also be using government data.”
As the largest global development institution focused on the private sector in emerging markets, IFC is committed to help develop markets and opportunities in Nepal, which will require further improvement to the investment climate for both entrepreneurs, and domestic and foreign investors.
“A periodic well-researched analytical report on the state of the private sector will be critical in further informing the public-private policy dialogue, and help the private sector maximize its development impact for the benefit of the people of Nepal” said IFC's Resident Representative in Nepal Babacar S. Faye.
