Kathmandu: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Investment Board Nepal (IBN) will cooperate with each other to promote foreign investment in Nepal.

In the third meeting held at the IBN for the International Investment Promotion Committee under the FNCCI on Tuesday, the Chief Executive Officer of the IBN Sushil Bhatt and the FNCCI President Shekhar Golchha expressed their commitment to work together to promote investment in the country.

“It is the responsibility of the Government of Nepal and the private sector to jointly work to bring quality investment in Nepal and realize the dream of prosperous and happy Nepalis. For this, the IBN is ready to cooperate and reach an understanding with the private sector,” said Bhatta.

Bhatta also said that the IBN is actively working with the private sector to bring necessary policy reforms to attract foreign investment in Nepal. Stating that the investment sector should also be diversified, he added, "We have many potential areas for investment and investors should also be encouraged to invest in our diverse sectors. Similarly, no project can move forward without an in-depth study of the technical, environmental and financial condition.”

On the occasion, FNCCI President Golchha said that the federation is a responsible and capable body to hold discussions and ensure coordination with domestic and foreign private investors. He stressed the need for the IBN and the FNCCI to work together to reach out to foreign investors to attract investment in Nepal. “We have an active network, both at home and abroad. Using that network, we can easily reach out to investors and attract investment to Nepal,” said Golchha.