First Business News Portal in English from Nepal
KATHMANDU: Nirmal Kajee Shrestha has been elected as the President of the American Chambers of Commerce Nepal (AmCham), the collective body representing businesses in Nepal with American investments.
The second Annual General Meeting (AGM) of AmCham, held in Kathmandu on Sunday, marked the end of the two-year term of the founding President, Ajit Bikram Shah. Shrestha, the Chief Executive Officer of MetLife, American Life Insurance Company Nepal, will lead the new working committee.
In addition to the election of Shrestha as President, an upcoming meeting of the AmCham Board of Directors will nominate the Vice-Chairman, Secretary, and Treasurer. Other members elected to the working committee include Kailash Raj Bijayananda, Ashim Man Singh Basnyat, Aakash Golchha, Manish Thapa, Samarth Mogha, and Sneh Rajbhandari.
Acknowledging the contributions of Shah in establishing AmCham, the organization has appointed him as an Honorary Member of the Board, recognizing him as the Founding Chairman. Semanta Dahal of Abhinav Law Chambers will also join the working committee as an Honorary Member.
Shrestha expressed confidence in the energetic leadership team and emphasized the promotion of organizational and business interests. He outlined plans for initiatives to attract foreign investments, particularly in the energy, tourism, and information technology sectors.
Shrestha highlighted the intention to participate in conferences related to investment and enterprise in Nepal and other countries to position Nepal as an attractive investment destination.
AmCham Nepal, the 130th member in the global network of American Chambers of Commerce, plays a crucial role in fostering trade with the USA and attracting investments. The AGM unanimously approved the financial and annual progress reports presented by the treasurer and secretary of the previous working committee.
During Shah’s tenure, AmCham successfully organized and united scattered businesses and entrepreneurs. Notably, 45 businesses joined the organization, and it achieved accreditation from the American Chamber of Commerce of the USA within two years.
This accreditation enhances the potential for American investment in Nepal significantly. AmCham has also facilitated discussions between businesspersons with American investments in Nepal and representatives of various government agencies, contributing to an improved investment environment.
Shah disclosed ongoing business partnerships with USAID and various organizations, with plans for Nepali companies to participate in a U.S.-related investment program in June 2024. Additionally, representatives from the U.S. private sector will be invited to Nepal in December 2024, fostering collaboration with other organizations as part of AmCham’s strategic plans.
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