Chandra Prasad Dhakal President of Federation of Nepalese Chamber of Commerce and Industry (FNCCI) urged to speed up economic reforms as the market has started to improve.

Dhakal, President of the FNCCI, has requested to make good use of this opportunity as the economy is gradually improving and the overall market is starting to move.

Speaking at an interaction program organized by Federation of Nepal Industry and Businessmen today in Kathmandu, President Dhakal said that there are clear signs of improvement in the economy in the belief that the government will provide stability. President Dhakal has also requested for more cooperation between the government and the private sector to attract domestic and foreign investors by paying attention to the improvements seen in the market.

President Dhakal mentioned that while there is excitement in the stock market in the country, the real estate business is also slowly increasing and the demand for credit is also improving, so it is necessary to make it more sustainable. Chairman Dhakal also mentioned that tourist arrivals are increasing, remittances are the highest so far, foreign currency reserves are sufficient, and the balance of payments is in a comfortable state, so there is an easy environment for investors to trust and work.

Welcoming the initiative of bringing two international airports of Pokhar and Bhairahawa into operation to attract more tourists, President Dhakal also drew attention to the fact that the time has come to take initiatives to eliminate the difference in fees charged to domestic and foreign tourists and to make air travel easier and cheaper.

PresidentDhakal also said that the federation is working in every way to support the initiative of bringing in foreign investment by organizing the Nepal Thailand Business Forum during the Prime Minister's visit to Thailand in the near future.

Previously, the federation has organized two investment promotion programs in India and four in China and Dubai. President Dhakal also mentioned that the foreign investment assistance cell established by the federation is providing assistance to the investors as per the demand of the investors.

On that occasion, President Dhakal also thanked the Minister of Finance saying that the issue of forming a commission for economic reforms was included in the action plan. Chairman Dhakal also said that the federation has been proposing an economic reform commission in the belief that such a commission would work for coordination among the concerned bodies of the private sector government and take initiatives to solve problems.

President Dhakal also requested not to change the concession brought for the manufacturing sector for at least ten years. President Dhakal also mentioned that electricity consumed by industries should be provided at an affordable rate and direct purchase of electricity by paying wheeling charges.

Informing that the Nepal Development Company has been established on the initiative of the Federation to include small investors who have small investments but have not found a place, President Dhakal also said that we plan to invest in start-ups, hydroelectricity and other infrastructure and capacity expansion of public institutions.

President Dhakal also drew attention to the fact that since there are about one and a half dozen regulatory bodies that look after the private sector, there is no need to bring them within the jurisdiction of the Authority, and therefore laws should not be made to discourage the private sector.

President Dhakal also expressed the belief that the political and stakeholders will pay attention to the private sector-friendly legal system and the participation of the private sector at the policy-making level to achieve economic prosperity.