• It is my pleasure to welcome you all to this significant dialogue today.
• As one of the organisers, I am honoured to be part of this important initiative.
• Today, we bring together key stakeholders to discuss and collaborate on issues that are important to the development of our nation.
• The Federation of Nepalese Chambers of Commerce and Industry is delighted to collaborate with the Government of Nepal and the United Nations in this initiative.
• FNCCI is the largest business network in the country and the second-largest network overall, after the Government of Nepal.
• Thus, it is our duty to partner with the government and development partners like the UN to advance sustainable development in Nepal.
• Our collective efforts are essential to make sure that we can meet the challenges and opportunities that lie ahead.
• One of the primary concerns that drives our collaboration is the state of investment in Nepal.
• Currently, Foreign Direct Investment stands at just 0.2 percent of our GDP.
• This is a very low figure for a country with our potential.
• Grants, which could have been a big source of support, are very small at this moment.
• This situation has led to an increased dependency on loans, which have doubled over the past nine years.
• This growing reliance on loans is not sustainable in the long term, and it poses a significant risk to our economic stability.
• Looking ahead, the challenges are set to intensify as Nepal graduates from the Least Developed Country (LDC) category.
• This graduation, while a proof to our progress, will also bring about new difficulties.
• The amount of grants and concessional loans available to us will decrease significantly, putting additional pressure on our finances.
• Moreover, our exports will face a significant impact as we lose preferential access to developed and preferred markets.
• These changes will require us to be more strategic and innovative in our approach to financing development.
• In this context, it is necessary that we have a focused and comprehensive discussion on financing for development.
• This is why we have decided to organise this event, bringing together stakeholders from various sectors to deliberate on the way forward.
• As far as I know, the Government of Nepal will be submitting the outcome of this event at the Summit of the Future, scheduled for the third and fourth weeks of September.
• This Conference will provide a global platform to present our collective ideas and strategies for sustainable development.
• While we engage in these important discussions, we are also working tirelessly to create an investment-friendly policy environment here in Nepal.
• Two days ago, we organised a significant programme with lawmakers, where the Honourable Deputy Prime Minister and Finance Minister was the chief guest.
• The event saw the participation of around 150 lawmakers of federal parliament, all of whom have assured us of their commitment to drafting policies that are private sector-friendly.
• This kind of dialogue between the government and the private sector is crucial to create an environment where businesses can thrive and contribute to the nation’s development.
• In addition to our efforts at home, we are also reaching out to other countries to attract investment to Nepal.
• Last year, we organised investment promotion events in India, China and Dubai, which were well-received.
• Next month, we are planning a similar event in Thailand during the Right Honourable Prime Minister’s visit.
• These initiatives are part of our broader strategy to position Nepal as a favourable destination for investment.
• We understand that to attract investment, we need to create the right conditions, and we are committed to doing just that.
• In response to our requests, the government has amended eight laws and passed a bilateral investment framework to create a more investment-friendly environment.
• These legislative changes are a positive step forward, and they reflect the government’s willingness to work with the private sector to drive economic growth.
• As we move forward, let us continue to work together — government, private sector, and development partners — to make Nepal a favorable country for investment.
• By joining forces, we can create an environment that encourages investment, fosters innovation, and ultimately leads to sustainable development for our nation.
• Thank you all for your participation and commitment to this shared goal.
• Together, we can build a prosperous future for Nepal.