Kathmandu: Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), emphasized that increased domestic and foreign investment will drive job creation and ensure labour security. Speaking at a business and human rights discussion in Bangkok, Thailand, Dhakal highlighted the direct link between investment growth and the protection of both investors’ and workers’ rights.

Dhakal stressed that sustainable economic development can only be achieved by providing opportunities for small and medium-sized enterprises (SMEs) to flourish. He urged the government and development partners to focus on protecting the rights of small entrepreneurs, asserting that the entire economy cannot advance without their success.

He also called for the formalization of Nepal’s informal sector, revealing that FNCCI is working on a formalization strategy to secure the rights of workers in informal employment. “All sectors must collaborate for sustainable economic development,” Dhakal stated.

FNCCI is committed to promoting responsible business practices to attract investment, Dhakal added. He also noted that Nepal has recently amended eight investment-related laws and approved a bilateral investment treaty framework, further improving the country’s investment climate. He encouraged both domestic and foreign investors to seize the growing opportunities in Nepal.