Kathmandu [Nepal], August 24 – The Nepal Chamber of Commerce (NCC) and the Non-Resident Nepali Association (NRNA) have signed a five-year memorandum of understanding (MoU) to promote investment, trade and economic cooperation in Nepal.
NCC President Kamlesh Kumar Agrawal and NRNA President Dr Hem Raj Sharma signed the agreement at an event held at the NCC office on Sunday.
Under the agreement the two organisations will work to facilitate foreign direct investment and strengthen cooperation between Nepali and non-resident Nepali businesses in trade, industry and entrepreneurship.
They will jointly organise investment conferences, roadshows, business summits and other events to connect investors with Nepali businesses. The organisations will also promote knowledge transfer, innovation, technology exchange and advocate for policies supportive of the private sector.
The agreement includes support for export-oriented industries small and medium-sized enterprises and start-ups along with training and capacity-building programmes.
Agrawal said effective implementation, legal clarity and policy stability were essential to creating investor confidence. He urged the government and private sector to work together to improve investment security and the business environment.
He said capital, skills, knowledge and international business experience held by Nepalis abroad could contribute significantly to sectors such as information technology, tourism, manufacturing and trade.
Sharma said NRNA should serve not only as a representative body for Nepalis abroad but also as a platform for Nepal’s economic and investment development. He highlighted the need to simplify legal and administrative procedures facing non-resident investors.
Former NCC president Rajendra Malla also called for removing procedural barriers and policy instability.
The MoU will remain valid for five years and may be renewed by mutual consent.
