Nepal Development Public Limited held its first annual general meeting (AGM) on Friday in Kathmandu.Chaired by the company’s chairman Chandra Prasad Dhakal, the meeting decided to expand the company’s investment scope by collaborating with government and national/international non-government funds through public–private partnerships, and to invest in large and employment-oriented projects.

In addition to major urban projects such as hydropower, tourism, and information technology, the company has also decided to invest in agriculture, cottage, small, and medium industries to create employment opportunities in rural areas. Separate structures named NDP Venture and NDP Developer will be established to invest in the PEVC (Private Equity and Venture Capital), urban infrastructure, and housing sectors.

Presenting the company’s first annual report, Chairman Dhakal, who is also the President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), stated that the company has made various efforts toward investment diversification and risk management by developing systems to make its investments more organized and secure.

He noted that given the current challenging economic situation, entrepreneurs’ morale has declined and it may take time for them to be ready for new investments. Therefore, he stressed the need for the government to ensure the safety of entrepreneurs and businesses and to create a conducive investment environment.

Chairman Dhakal expressed that this investment company could play a crucial role in revitalizing the sluggish economy, increasing production and employment, boosting entrepreneurs’ confidence, and leading the nation toward economic development and prosperity.

“The country’s economy is currently going through a unique phase. The decline in market demand has slowed down economic activities. Entrepreneurs have lost confidence and are hesitant to make further or new investments. At such a time, through this investment company, we can invest in large and strategic industries and businesses to help revive the economy, stimulate economic activities, and generate employment,” Dhakal said.

He further mentioned that there has been significant interest from Nepalis both at home and abroad in this investment company.

“I recently attended an IMF program in the United States, where many Nepalis expressed deep interest in Nepal’s current situation, investment prospects, and this company. Similarly, during visits to other countries, I have found that many Nepalis are keen to learn about and invest in this company. We must continue to identify promising projects for investment. Many domestic and non-resident Nepali investors are ready to participate,” he added.

He also stated that the company will provide necessary consultancy services to domestic and foreign entrepreneurs and investors to establish, operate, and expand industries/businesses in Nepal. The company will also provide advisory support for the revival of sick and troubled industries and for projects that attract direct foreign investment.

Chairman Dhakal urged all industrialists, entrepreneurs, and non-resident Nepalis to participate in the country’s economic development and prosperity by investing through this company.

Established a year ago, the company has a total capital of NPR 10 billion and currently has 246 shareholders from 46 districts.

It was founded with the participation of small to large entrepreneurs/businesspersons and non-resident Nepalis from all 77 districts of Nepal to consolidate scattered capital for increasing production and generating employment.

A meeting of the Executive Committee of FNCCI held in Dhorpatan, Baglung, had proposed forming a national-level investment company by uniting entrepreneurs and businesses scattered across the country. The goal was to expand a strong, capable, and participatory equity market through this company.

Accordingly, FNCCI, the Confederation of Nepalese Industries (CNI), the Nepal Chamber of Commerce (NCC), and the Non-Resident Nepali Association (NRNA), along with their affiliated members, jointly established this company.