The Confederation of Nepalese Industries (CNI) and the Federation of Thai Industries (FTI) today signed a Memorandum of Understanding (MoU) on investment promotion and cooperation.

The document was signed during Prime Minister KP Sharma Oli's ongoing official visit to Thailand (April 1-5).

CNI President Rajesh Kumar Agrawal and Kriengkrai Thiennukul, the FTI Chair, signed the MoU on behalf of their respective sides.

"Both entities have reached an understanding for collaborating on investment and business promotion as well as in the areas of economic and business-related studies, research, training and capacity enhancement as well as on the information exchange on legal and policy affairs," the CNI said in a press statement.

CNI President Agrawal hoped that this understanding would encourage investment from Thailand, presenting Nepal as an 'appropriate destination' for foreign investors.

He added that the government has implemented legal reforms to attract foreign investment, and the international community could take full advantage of these opportunities.