FNCCI President Urges Non-Resident Nepalis in Australia to Invest in Key Sectors

FNCCI President Urges  Non-Resident Nepalis in Australia to Invest in Key Sectors

Chandra Prasad Dhakal, the President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has urged Nepali citizens living in Australia to consider investing in Nepal, highlighting the favorable investment climate in the nation.

Addressing a program organized by Nepal Rastra Bank, the Federation of Nepalese Industries and Commerce, and the Non-Resident Nepali Association in Melbourne on Sunday, President Dhakal emphasized the need to bring the knowledge, skills, and capital acquired by Nepalis abroad into Nepal.

"Nepal has great potential for hydropower, tourism, information technology, mining, and agricultural industries," Dhakal stated, adding that the investment environment in Nepal is improving.

He mentioned that the government's upcoming budget includes provisions for establishing a Rs 10 billion investment company under the leadership of the FNCCI, which will invest in various potential projects in Nepal. Dhakal urged non-resident Nepalis in Australia to join hands in Nepal's development and prosperity by investing shares in this company.

The FNCCI has established a separate FDI desk to promote foreign investment, and President Dhakal assured that the federation is always ready to provide necessary assistance and facilitation to bring in both domestic and foreign investments.

Deputy Governor of Nepal Rastra Bank, Bom Bahadur Mishra, insisted on using formal banking channels when sending remittances to Nepal. He mentioned that there is no problem for any foreigner and non-resident Nepalis to invest in Nepal and repatriate profits, and the central bank will facilitate this process.

Ratnaraj Bajracharya, Chief Executive Officer of Global IME Bank Limited, stated that Nepali banks are becoming capable of handling large investments. He mentioned that Nepali banks are regulated by Nepal Rastra Bank, and deposits in Nepali banks are safe, offering relatively higher interest rates.

More than 200 non-resident Nepalis participated in the program.

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