Invest in Nepal’s potential, urges FNCCI President Dhakal to diaspora

April 21, 2025, 11:41:46 AM |

DUBAI: Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has called on Nepalis working abroad and Non-Resident Nepalis (NRNs) to invest a portion of their earnings in Nepal, promising a conducive environment for returns. Speaking at a New Year 2082 BS felicitation program organized by the Nepali Janasamparka Samiti UAE, Dhakal highlighted the untapped investment opportunities across various sectors in Nepal.

“Nepal brims with potential, with many sectors yet to be explored. However, there’s a tendency to view the country negatively or compare it unfavorably with developed nations. I urge you: if you bring the same dedication and investment you show abroad to Nepal, the opportunities are immense,” Dhakal said. He cited his own journey from Baglung to leading Nepal’s apex private sector body, providing over 25,000 jobs through his companies, as proof of the rewards of hard work and integrity.

Dhakal emphasized recent legal reforms by the Nepali government, driven by FNCCI’s advocacy, which have bolstered investor confidence. “The government has amended over two dozen laws to pave the way for investment. Since taking FNCCI’s leadership, we’ve prioritized creating a business-friendly environment and attracting foreign and diaspora investment,” he noted. He urged Nepalis abroad to contribute to production, employment, and revenue growth, adding that such investments could support their eventual return to Nepal.

To facilitate diaspora investment, Dhakal announced the establishment of the Nepal Development Company with NPR 10 billion in capital. The company aims to pool scattered capital from Nepalis at home and abroad for investments in hydropower, tourism, industry, and other high-potential sectors. “Even a small portion of your earnings invested in Nepal can accelerate our development. I invite you to join this initiative,” he appealed.

Challenging the notion that Nepal lacks potential or that only foreign investment can drive progress, Dhakal said the Nepal Development Company would demonstrate the power of domestic capital. “By treating NPR 10 billion as equity and leveraging 75–80% in loans, we can mobilize over NPR 40 billion for large-scale infrastructure projects,” he explained, debunking myths about the necessity of foreign funds.

Dhakal reassured attendees that Nepal’s investment climate is improving, with recent legal reforms creating a supportive framework. The program also featured remarks from Health and Population Minister Pradeep Paudel, Nepal’s Ambassador to the UAE Tej Bahadur Chhetri, and other dignitaries, who echoed calls for diaspora engagement in Nepal’s development.

As Nepal seeks to harness its economic potential, Dhakal’s message underscores the critical role of its global workforce in building a prosperous future.

Fiscal Nepal |

Monday April 21, 2025, 11:41:46 AM |