FNCCI to identify 50 projects to attract FDI
KATHMANDU, SEP 05 -
At a time when the country is struggling to attract foreign direct investment (FDI), the private sector’s apex body, Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has said that it will start work on identifying 50 projects so as to make it easy for interested foreign investors to know about Nepal’s investment potentials.
FNCCI is currently is working in partnership with the Ministry of Industry (MoI) to this effect. “We will identify 50 potential projects in various sectors to attract FDI,” said DNCCI President Suraj Vaidya at an interaction here on Sunday.
FNCCI, according to Vaidya, will prepare a medium-term strategy, identify priority sectors and try to develop a consensus among major political forces on economic agendas. “FNCCI will also carry out a study on economic potentials of the Far-West Region,” said Vaidya, adding that they are preparing to unveil the economic agenda.
The federation has said that a Policy Advisory Group has been formed and preparation of the draft medium-term strategy has been started. Once the draft is prepared, consultations will be held with political parties, said FNCCI.
With energy crisis remaining one of the major problems of the industrial sector, FNCCI has urged the government to find immediate solutions. “We cannot wait for five years,” said Vaidya. “Immediate solutions should be explored. If stable and uninterrupted power supply is ensured, the private sector doesn’t mind paying higher tariff,” said Vaidya, adding that an initiative at political level should be taken to import energy from India.
The private sector’s apex body was critical of recently established Hydropower Investment and Development Company. The company to be run through the public sector is not expected to solve the power problem, said FNCCI.
The federation has said that mega storage-type projects like West Seti and Budhi Gandaki should be developed in collaboration with the private sector. With hydropower developers struggling with high price of construction materials and bank interest rate, FNCCI sought special package for large investors in hydropower. Reiterating the demand of independent power producers, FNCCI also asked for an increment in the Power Purchase Agreement (PPA) rate.
With labour unrest hitting productivity and industrial peace hard, FNCCI made it clear that it is for enforcing ‘no work, no pay’ and ‘hire and fire’ provisions. “The industrial sector has reached this sorry state as a result of increasing labour problems,” said Vaidya. “We badly need the enforcement of the ‘no work, no pay’ provision; nothing less and nothing more than that.”
At the upcoming meeting of the Central Labour Advisory Committee, the federation is planning to raise the issue of ‘no work, no pay’ and ‘hire and fire’ provisions strongly.
FNCCI Senior Vice-President Bhaskar Raj Rajkarnikar said they along with three leading trade unions have requested the Labour Ministry to call a meeting of the committee. According to Rajkarnikar, closure of the garment division of Surya Nepal Private Limited sent a negative message to potential investors.
The meeting of the committee is expected to end the workers’ pay hike issue. FNCCI has said that it is ready to implement the minimum pay fixed by the government provided that the government honours the 11-point agreement that it reached with three leading trade unions.
Source: Kantipur
At a time when the country is struggling to attract foreign direct investment (FDI), the private sector’s apex body, Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has said that it will start work on identifying 50 projects so as to make it easy for interested foreign investors to know about Nepal’s investment potentials.
FNCCI is currently is working in partnership with the Ministry of Industry (MoI) to this effect. “We will identify 50 potential projects in various sectors to attract FDI,” said DNCCI President Suraj Vaidya at an interaction here on Sunday.
FNCCI, according to Vaidya, will prepare a medium-term strategy, identify priority sectors and try to develop a consensus among major political forces on economic agendas. “FNCCI will also carry out a study on economic potentials of the Far-West Region,” said Vaidya, adding that they are preparing to unveil the economic agenda.
The federation has said that a Policy Advisory Group has been formed and preparation of the draft medium-term strategy has been started. Once the draft is prepared, consultations will be held with political parties, said FNCCI.
With energy crisis remaining one of the major problems of the industrial sector, FNCCI has urged the government to find immediate solutions. “We cannot wait for five years,” said Vaidya. “Immediate solutions should be explored. If stable and uninterrupted power supply is ensured, the private sector doesn’t mind paying higher tariff,” said Vaidya, adding that an initiative at political level should be taken to import energy from India.
The private sector’s apex body was critical of recently established Hydropower Investment and Development Company. The company to be run through the public sector is not expected to solve the power problem, said FNCCI.
The federation has said that mega storage-type projects like West Seti and Budhi Gandaki should be developed in collaboration with the private sector. With hydropower developers struggling with high price of construction materials and bank interest rate, FNCCI sought special package for large investors in hydropower. Reiterating the demand of independent power producers, FNCCI also asked for an increment in the Power Purchase Agreement (PPA) rate.
With labour unrest hitting productivity and industrial peace hard, FNCCI made it clear that it is for enforcing ‘no work, no pay’ and ‘hire and fire’ provisions. “The industrial sector has reached this sorry state as a result of increasing labour problems,” said Vaidya. “We badly need the enforcement of the ‘no work, no pay’ provision; nothing less and nothing more than that.”
At the upcoming meeting of the Central Labour Advisory Committee, the federation is planning to raise the issue of ‘no work, no pay’ and ‘hire and fire’ provisions strongly.
FNCCI Senior Vice-President Bhaskar Raj Rajkarnikar said they along with three leading trade unions have requested the Labour Ministry to call a meeting of the committee. According to Rajkarnikar, closure of the garment division of Surya Nepal Private Limited sent a negative message to potential investors.
The meeting of the committee is expected to end the workers’ pay hike issue. FNCCI has said that it is ready to implement the minimum pay fixed by the government provided that the government honours the 11-point agreement that it reached with three leading trade unions.
Source: Kantipur
