FNCCI Invites UAE Investors to Explore Lucrative Opportunities in Nepal's Key Sectors

Fri, Dec 1, 2023 12:31 PM on Economy, National, Featured,

The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President, Chandra Prasad Dhakal, has extended a warm invitation to investors from the United Arab Emirates (UAE), urging them to delve into promising opportunities within Nepal's burgeoning sectors. Speaking at the Nepal-UAE Business Forum in Dubai, President Dhakal emphasized the commitment of Prime Minister Pushpa Kamal Dahal 'Prachanda' to economic revival, setting the stage for a thriving business environment.

Nepal's external sector stability, coupled with a youthful population, establishes a robust foundation for trade and investment, rendering it an attractive prospect on the global stage, stated President Dhakal. Identifying key sectors for mutual growth, he underscored four areas with immense investment potential: energy, tourism, agro-processing, and information and communication technology (ICT).

In the energy sector, President Dhakal encouraged UAE investors to capitalize on Nepal's promising market as regional opportunities unfold, presenting a timely moment for impactful investments. Highlighting Nepal's significant infrastructure development in the tourism sector, including additional international airports in Lumbini and Pokhara, he urged UAE investors to contribute to world-class tourism infrastructure, emphasizing the potential for increased bilateral tourism.

Agriculture, a cornerstone of Nepal's economy, presented another avenue for collaboration. President Dhakal invited UAE investors to explore opportunities in agro-processing, leveraging Nepal's unique climate and the agricultural products of the Himalayan region. He called for facilitation, both tariff and non-tariff, to enhance the growth of this sector.

In the ICT sector, aligning with the UAE's success in the digital economy, President Dhakal envisioned a mutually beneficial partnership, fostering innovation and growth through collaboration and knowledge exchange. Recognizing the crucial role of banking and finance in trade and investment, he proposed a partnership to promote UAE investment in Nepal's banking sector, emphasizing the potential to cater to the large Nepali population through the operations of Nepali banks in the UAE.

President Dhakal also drew attention to the Nepali workforce in the UAE, known for their hard work and integrity. He proposed investments in technical and vocational schools to upskill the workforce, creating opportunities for joint growth. Sharing his personal journey as a living example of what is possible in Nepal with government support and a favorable investment climate, he expressed gratitude to Prime Minister Dahal for his commitment to drafting a Bilateral Investment Agreement between Nepal and the UAE.

Concluding his address, President Dhakal invited the UAE business community to invest in Nepal, assuring that FNCCI is ready to cooperate on all fronts to strengthen economic relations between the two nations. As the forum concluded, the invitation resonated, opening new avenues for collaboration and reinforcing the belief that the synergy between Nepal and the UAE can script a joint story of growth and prosperity. The presence of dignitaries, including Prime Minister Dahal, marked a pivotal moment in the robust friendship and economic cooperation between the two nations, as stated in an FNCCI press release.