Kathmandu: President of the Federation of Nepalese Chamber of Commerce and Industries (FNCCI), Chandra Prasad Dhakal, has raised concerns about the negative impact of false information circulating on social networking sites on the investment atmosphere. He emphasized that such misinformation undermines the morale of the private sector.
According to National News Agency Nepal, President Dhakal highlighted a specific instance during the Gen Z protest where misinformation played a significant role, resulting in substantial losses for the private sector. He stressed the importance of communications media in attracting both domestic and foreign investment, noting that good governance, corruption control, and efficient public services are essential for a favorable investment climate.
Dhakal asserted that the private sector acts as the engine of the economy, expressing concern over the sector suffering during political protests. He also urged for efforts to counter the narrative that undermines the country’s achievements.
Birendra Raj Pande from the Confederation of Nepali Industries suggested that the state should intervene when investors are disheartened. He questioned why investment levels have not increased, despite sufficient bank deposits and reforms in interest rates.
Kamalesh Kumar Agrawal, Chairperson of the Nepal Chamber of Commerce, pointed out that Nepal’s economy has not fully recovered from the impacts of Covid-19, and recent times have been increasingly challenging for industrial activities.