Banking News – Chandra Prasad Dhakal, Immediate Past President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and Chairman of the IME Group, has called on investors from the United Arab Emirates (UAE) to expand their investments in Nepal, stating that the country currently offers a favorable environment for investment.

Speaking at a dinner reception hosted at Chandragiri in honor of a high-level UAE government and private sector delegation led by Dr. Thani Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, Dhakal said Nepal–UAE relations should now move beyond labor migration and remittances to focus on trade, investment, innovation, entrepreneurship, and joint ventures.

He praised the UAE’s remarkable transformation over the past five decades, noting that its achievements in trade, investment, finance, tourism, innovation, and technology are the result of visionary leadership, open economic policies, and a business-friendly investment climate.

Dhakal said Nepal could draw valuable lessons from the UAE’s development model.

Highlighting that 2027 will mark the 50th anniversary of diplomatic relations between Nepal and the UAE, he said the milestone should be used as an opportunity to elevate bilateral economic cooperation to a new level.

He also noted that discussions on a Bilateral Investment Agreement (BIA), a Double Taxation Avoidance Agreement (DTAA), and a Comprehensive Economic Partnership Agreement (CEPA) between the two countries are progressing positively. According to Dhakal, these agreements are expected to conclude in the near future, strengthening investor confidence, creating a more investment-friendly environment in Nepal, expanding private-sector collaboration, and boosting bilateral trade and investment.

Dhakal highlighted significant investment opportunities in Nepal across sectors including hydropower, tourism, digital payments, financial technology (FinTech), urban infrastructure, agriculture, manufacturing, industrial development, and supply chain services. He said the UAE’s technological expertise, investment capacity, and global experience align well with Nepal’s development priorities.

Emphasizing Nepal’s vast untapped potential, he said joint investments in tourism, hydropower, infrastructure, manufacturing, and other high-potential sectors could lead to the development of world-class projects, generating employment, expanding economic activity, and contributing to the shared prosperity of both countries.

He added that the IME Group has maintained long-standing partnerships with several UAE financial institutions in the fields of banking, remittances, and digital payment services, and expressed interest in expanding cooperation into tourism infrastructure, cable cars, premium hospitality projects, hydropower, and integrated entertainment infrastructure.

Reflecting on his tenure as FNCCI President, Dhakal recalled organizing the Nepal–UAE Business Forum during COP28 in Dubai and participating twice in the World Government Summit, experiences that further strengthened his confidence that the UAE views Nepal as a promising investment destination.

Concluding his remarks, Dhakal urged UAE businesses to seize the opportunity.

“Nepal is ready. Now is the right time to invest in Nepal,” he said, inviting the private sectors of both countries to deepen economic cooperation through investment, innovation, and entrepreneurship.