FNCCI Prez urges NRNs in Qatar to invest in Nepal

Published On: January 27, 2024 06:50 PM NPT By: Republica | @RepublicaNepal

KATHMANDU, Jan 27: Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has urged the Non-resident Nepalis (NRNs) in Qatar to invest in various sectors in Nepal.

Addressing the conference of 'Nepal Business Association Qatar' held in Doha, Qatar, President Dhakal urged Nepal to invest in tourism, infrastructure development, renewable energy and agriculture.

President Dhakal stated, “Nepal has significant potential for investment in areas such as tourism, infrastructure development, renewable energy, and agriculture. In addition to these sectors, Qatar's development experience in urbanization and information technology can also be applied in Nepal. So, take full advantage of the opportunity to invest in Nepal and make profits.”

President Dhakal stated that Nepali workers have contributed to the economic growth and development of Qatar and also urged the resident Nepalis in Qatar to establish a technical school in Nepal toenhance the skills of these workers.

President Dhakal emphasized that the legal provisions by the Nepali government for non-resident Nepalis should encourage them to invest in Nepal.

He mentioned, “While they may have considered the future of their investment, I believe that the new legal provision for citizenship has made it easier and safer to do business by investing in Nepal.”

As the Nepal government, in collaboration with FNCCI, is planning to organize an investment conference to attract foreign investments to Nepal, he urged them to create a favorable investment environment in Nepal and encourage Qatari investors to do the same.

He said that even before this conference, the government has expressed its commitment to create an investment-friendly environment by improving many legal obstacles, and work is being done accordingly.

President Dhakal also urged the non-resident Nepalis in Qatar to take advantage of Nepal's geopolitical situation, trade opportunities with the two emerging economies of the world, India and China.

He also said that the recent high-level agreement on energy with India is positive and it paves the way for investment in hydropower and energy trade in Nepal.