Three private sector organisations urge all not to vitiate investment environment

KATHMANDU, FEBRUARY 4: Three private-sector business organizations have urged all stakeholders to maintain a favourable investment climate in the country.

Expressing serious concern over protests against the construction of a cable car for tourism development in the Pathibhara (Makkumlung) area, they called for an immediate end to the agitation.

In a joint press release, the Federation of Nepali Chambers of Commerce and Industry (FNCCI), the Confederation of Nepalese Industries (CNI), and the Nepal Chamber of Commerce stated that strikes in Koshi Province over the cable car project have disrupted education, business, and social activities. They warned that continued protests could harm the country's investment-friendly environment for infrastructure development.

“The private sector plays a crucial role in the nation’s economic growth. Investments in industries, trade, banking, energy, agriculture, tourism, and communications have significantly contributed to national prosperity. Disrupting such initiatives sends a negative message to domestic and foreign investors,” the statement read.

The statement highlighted that the tourism sector has already received significant private investment, generating direct and indirect employment. The proposed Pathibhara (Makkumlung) cable car project aims to enhance accessibility for visitors, including senior citizens and children while promoting religious, cultural, and adventure tourism in the region. Additionally, its implementation is expected to boost local agriculture and handicraft industries.

"When local authorities and communities have agreed on the project, any obstruction or external interference only hinders development," the statement added.

The private sector warned that such protests could discourage future investments in Nepal, affecting overall economic growth. Emphasizing dialogue as the best solution, the organizations urged local communities, stakeholders, and relevant authorities to approach the project positively and ensure its smooth implementation.

Meanwhile, FNCCI's Koshi, Gandaki, and Karnali provincial chapters issued separate statements echoing similar concerns and urging for a resolution.