Federation of Nepal Chambers of Commerce and Industry (FNCCI) President Chandra Prasad Dhakal urges the government to declare an investment decade to boost investment in the country and to formulate and implement a unified law on investment.

President Dhakal made the request while speaking on the occasion of the inauguration of the Province Investment Summit-2082 organized by the Koshi Province Government for the first time in Biratnagar.

He suggested declaring the next 10 years as an investment decade, unifying investment-related laws, including forest, environment, and land, into a unified investment code, and ending the practice of different interpretations by different bodies.

Similarly, he emphasized the need for policy stability for investment and economic development. "Policy stability is the need of the hour for investment and economic development. There are many examples of countries that have achieved development due to policy stability even in the midst of political instability."

"All parties should agree not to make any policy changes for at least the next ten years. We believe that the situation of misinterpretation of laws and the conflicting of one law with another should end," he said.

Stating that the upcoming budget and monetary policy should prioritize investment facilitation, Chairman Dhakal expressed the view that this year's budget should be the starting point for a new phase of economic reform.

President Dhakal urged the government to make arrangements for business registration through the Nagarik app, to make arrangements for automatic renewal based on tax payments, and to end the situation where investors have to manually file files by making arrangements for foreign investment to be submitted online after completing all the procedures.

He also urged to emphasize investment facilitation by integrating the Investment Board, the Department of Industry and other agencies and creating a fully-fledged investment facilitation body.

President Dhakal stated that Koshi Province is a region with vast potential in the fields of tourism, agriculture, industry, energy, infrastructure, information technology, and more.

President Dhakal urged the Koshi Provincial Government to reassure investors by clarifying the feasibility of the projects to be presented at the conference, the investment framework, and the role of the provincial government.

Informing that a public limited company with a capital of 10 billion rupees has been established and work has begun on the initiative of the federation to ensure that there is no shortage of capital for infrastructure development in the country, he said that this will help to overcome the shortage of investment in infrastructure, at least to a small extent.

Similarly, recalling that the Federation raised the issue of good governance during its general assembly to expand investment and enhance service security for the general public, he expressed gratitude to the government for immediately forming the Good Governance Commission.

He also said that the private sector is ready to collaborate in every way for improvements in the areas of good governance and reform.