President Dhakal calls for increased investment in SMEs & creative economy at Asian Trade Promotion Forum
He highlighted that these enterprises are the backbone of the economy and called for more favorable conditions for export markets.
KATHMANDU: Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), emphasized the need to increase investment in small and medium enterprises (SMEs) in developing countries like Nepal.
He highlighted that these enterprises are the backbone of the economy and called for more favorable conditions for export markets.
Addressing the Asian Trade Promotion Forum (ATPF) held in Bangkok, Thailand, President Dhakal urged for a unified economic perspective on the theme of Inclusive Prosperity: Empowering SMEs in the Asian Trade Economy.
In Nepal, SMEs contribute nearly 22% to the GDP, making intersectoral partnerships crucial for the development and promotion of this sector, according to President Dhakal.
He also drew the attention of Asian investors to the rising investment and market opportunities as SMEs are increasingly linked to the creative economy.
Nepal’s export market comprises a significant portion of handwoven carpets, Thangkas, paintings, and traditional musical instruments.
President Dhakal encouraged investment in these cultural industries, which can contribute to inclusive prosperity. He further called on investors to explore opportunities in promoting SMEs through tourism, urging them to visit Nepal and discover investment prospects.
With the expanding tourism market, Nepal seeks investment in tourism infrastructure such as hotels, theme parks, and cable cars, highlighting partnership opportunities in this growing sector.
President Dhakal also noted the promising opportunities in hydropower, with India committed to purchasing 10,000 megawatts of electricity from Nepal over the next decade, and additional markets secured in Bangladesh.
To improve the investment climate, Dhakal mentioned that Nepal has amended several business-related laws and passed a bilateral investment agreement framework to facilitate foreign investors. He invited foreign investors to take advantage of this favorable environment.
Lastly, President Dhakal assured that FNCCI is ready to assist foreign investors interested in Nepal, providing support through a help desk that helps investors understand policies and procedures.
