President Dhakal invited UAE investors to invest in Nepal

KATHMANDU, DECEMBER 1. President Dhakal Invites UAE Investors to Invest in Hydro, Tourism, Agriculture, and ICT in Nepal Dubai, UAE, November 30, 2023 Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Prasad Dhakal extended a warm invitation to UAE investors, urging them to explore lucrative opportunities in Nepal’s burgeoning sectors. With the presence of dignitaries including Prime Minister Puspa Kamal Dahal ‘Prachanda,’ the forum marked a pivotal moment in the robust friendship and economic cooperation between the two nations.

In his address at the Nepal UAE Business Forum in Dubai, President Dhakal, representing the apex body of Nepal’s private sector, FNCCI, highlighted the PM Dahal’s commitment to economic revival, setting the stage for a thriving business environment. Nepal’s external sector stability, coupled with a youthful population, creates a solid foundation for trade and investment, making it an attractive prospect on the global stage, Dhakal said. Identifying key sectors for mutual growth, President Dhakal emphasized four areas with immense investment potential: energy, tourism, agro-processing, and ICT.

He encouraged UAE investors to capitalize on Nepal’s promising energy market as regional markets open up, presenting a timely opportunity for impactful investments. In the tourism sector, President Dhakal showcased Nepal’s significant infrastructure development, including additional international airports in Lumbini and Pokhara. He urged UAE investors to contribute to the development of world-class tourism infrastructure, including hotels, cable cars, theme parks, and hill stations, underscoring the potential for increased bilateral tourism. Agriculture, a cornerstone of Nepal’s economy, presented another avenue for collaboration. President Dhakal invited UAE investors to explore opportunities in agro-processing, leveraging Nepal’s unique climate and the Himalayan region’s agricultural products.

He called for tariff and non-tariff facilitation to enhance the sector’s growth. The ICT sector, a growing force in Nepal, aligned with the UAE’s success in the digital economy, offering prospects for collaboration and knowledge exchange. President Dhakal envisioned a mutually beneficial partnership in this sector, fostering innovation and growth. President Dhakal also highlighted the crucial role of banking and finance in trade and investment. Proposing a partnership to promote UAE investment in Nepal’s banking sector, he emphasized the potential to cater to the large Nepali population through operations of Nepali banks in the UAE.

Drawing attention to the Nepali workforce in the UAE, known for their hard work and integrity, President Dhakal proposed investments in technical and vocational schools to upskill the workforce, creating opportunities for joint growth. He shared his personal journey as a living example of what is possible in Nepal with government support and a favorable investment climate. Expressing gratitude to Prime Minister Dahal for his commitment to drafting a Bilateral Investment Agreement between Nepal and the UAE, President Dhakal concluded by inviting the UAE business community to invest in Nepal. FNCCI, he assured, is ready to cooperate on all fronts to strengthen economic relations between the two nations. As the forum concluded, the invitation resonated, opening new avenues for collaboration and reinforcing the belief that the synergy between Nepal and the UAE can script a joint story of growth and prosperity.