Stopping development & investment hinders the country’s economic prosperity & progress, says Chair Dhakal

KATHMANDU: The Chair of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, has stated that hindering development and investment will obstruct the economic prosperity and progress of the country, affecting not only our generation but also future generations, leading them into a cycle of poverty and scarcity.

Addressing the opening ceremony of the second Gandaki State Festival organized by the FNCCI Gandaki State, Chair Dhakal urged everyone not to engage in actions that discourage investment or halt development.

“There are still some areas in Nepal where the mindset of obstructing development and investment has not been eliminated. Such obstacles not only affect investment but also have a negative impact on the country’s prosperity and development,” he said.

Dhakal highlighted the significant potential for the development of religious and cultural tourism infrastructure in the country, emphasizing the need for substantial capital for such projects and a conducive environment for investment.

“When we built the Chandragiri Cable Car, we faced similar resistance. But now, that area is thriving. Locals have found employment, and the country has gained a tourist destination,” he remarked.

He stressed the importance of promoting the development potential of Gandaki State and Gaindakot.

He also mentioned that to uncover the potential of Gandaki State, both the private sector and the government must collaborate.

Referring to the recent visit to the Nepal-China Korola border, he suggested that upgrading the road from Magdi to Korola could significantly contribute to Nepal’s economic growth and prosperity by connecting two major global economies through the Kali Gandaki Corridor.

“I traveled there after Dashain. I also went from the Korola border to the Sunauli border by car. The road has become much more accessible than before,” he shared.

He further stated that if infrastructure at the Korola border can be developed, it could become a short and easy route connecting the two countries, benefiting Gandaki Province significantly. He urged the provincial government to pay special attention to this issue.

Since taking the lead of the FNCCI, Dhakal mentioned that he has been actively working to attract foreign investment by visiting various countries.

He urged provincial and local government leaders to evaluate their tenure based on the results of the work they have done.

“During our tenure, we have changed several policies and regulations to create an investment-friendly environment, initiated various projects, and completed some of them. These will reflect our success or failure. Therefore, we must work to achieve tangible results,” he said.

To overcome the growing pessimism in the country and attract investment in potential projects, Dhakal expressed confidence that the newly established Nepal Development Company will help revitalize the country’s sluggish economy.

“The Nepal Development Company has been established under the leadership of the FNCCI. It has a business-minded approach but lacks equity. If you are willing to invest in potential projects, you can also invest through this company,” he concluded.