Geneva: President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, has highlighted Nepal’s growth in the formal economy and investment facilitation during his speech at the 113th session of the International Labour Conference in Geneva.
According to National News Agency Nepal, Dhakal addressed the global community about Nepal’s legal reforms and business opportunities. Speaking to delegates from governments, workers’ organizations, and employer groups, he praised the International Labour Organization’s (ILO) tripartite model for promoting collaboration in the labour market. Dhakal emphasized the shared goal of fostering business growth and ensuring decent work, aligning with the ILO’s mission, and expressed FNCCI’s commitment to this model.
Dhakal also detailed Nepal’s collaboration with the government on legal reforms, including amendments to 30 investment-related laws and the introduction of a new Bilateral Investment Agreement Framework. He noted these reforms aim to support formal businesses and encourage informal enterprises to integrate into the mainstream economy.
Highlighting Nepal’s strategic location, Dhakal pointed out the access to the large markets of China and India, asserting that duty-free access and trade preferences with Europe and America will persist even after Nepal graduates from its Least Developed Country (LDC) status in 2026. He reaffirmed Nepal’s commitment to creating decent jobs through economic growth and pledged to work towards a more inclusive future for Nepal and the world.