AmCham Nepal concludes 3rd AGM

KATHMANDU: The American Chamber of Commerce in Nepal (AmCham) successfully concluded its 3rd Annual General Meeting (AGM), showcasing a review of its achievements over the past year and outlining its strategic plans for the future.

Established to promote U.S. investment and strengthen bilateral trade relations between Nepal and the U.S., AmCham has emerged as a dynamic platform for fostering business collaboration.

Speaking at the event, Siddhartha Mehra, Executive Director for South Asia at the U.S. Chamber of Commerce, lauded AmCham’s impactful initiatives within a short span of its establishment.

AGM highlights

AmCham Chair Nirmal Kaji Shrestha emphasized 2024 as a pivotal year for AmCham, focused on creating new investment opportunities and enhancing Nepal-U.S. trade relations.

He noted AmCham’s advocacy for resolving investment challenges and its engagement in high-level dialogues to bolster foreign investments in Nepal.

Shrestha expressed satisfaction over AmCham’s growth into a multifaceted and influential business group since its inception in 2021 under Ajit Bikram Shah’s leadership, with support from the U.S. Embassy in Nepal.

Key Achievements

• Policy Advocacy: Over the past year, AmCham conducted 58 formal advocacy initiatives, including 20 high-level meetings and the publication of 60 policy articles.
• Membership Growth: AmCham welcomed 16 new members, increasing its total membership from 38 in 2023 to 54 in 2024.
• Financial Growth: AmCham reported a fund accumulation of Rs 3.15 million.

Major Engagements

• Interactive Sessions: In April, AmCham organized a dialogue with Ambassador Atul Keshap from the U.S. Chamber of Commerce, focusing on trade relations. Members also engaged with the United States Patent and Trademark Office and the United States Trade and Development Agency.
• High-Level Meetings: AmCham representatives held discussions with Nepal’s Prime Minister, former Minister for Communications and Information Technology Rekha Sharma, and U.S. State Department officials in Washington, D.C.
  Events and Collaborations
• Conferences: AmCham hosted the Tech Peak ICT Conference in 2024, aligning with the upcoming Investment Summit.
• Strategic Partnerships: Memorandums of Understanding (MoUs) were signed with the Confederation of Nepalese Industries (CNI), the Nepal Private Equity Association, and the U.S. Department of Commerce’s International Trade Administration.
• Participation in USIBC Event: AmCham represented Nepal at the U.S.-India Business Council (USIBC) program in New Delhi.

Advocacy Focus Areas

AmCham has been actively lobbying for policy changes in areas such as tax compliance, sweat equity, IT and cybersecurity bills, source code ownership, and e-commerce regulations.

It continues to advocate for the removal of restrictions on foreign investment in IT and the facilitation of foreign currency transactions.

Future Plans

AmCham has prioritized several flagship programs for 2025, including:

• Tech Peak Nepal 2025
• Nepal–U.S. Road Show
• Shared Services and Outsourcing Week (SSOW) Conference 2025

AmCham remains committed to fostering a business-friendly environment in Nepal through continuous advocacy, collaboration, and strategic initiatives, promoting sustainable investment and growth in key sectors such as tourism, ICT, energy, manufacturing, infrastructure development, and financial services.