NCC, WB discuss investment in Nepal

By A Staff Reporter,Kathmandu, Nov. 6: The Nepal Chamber of Commerce (NCC) and the World Bank Group have deliberated on the state of Nepal’s private sector, investment opportunities, and current challenges.

NCC President Kamlesh Kumar Agrawal expressed his views on the current economic situation of the country, the economic impact following the ‘Gen Z Movement’, the investment climate, necessary policy and legal reforms, and the prospects for sustainable economic development.

He said that Nepal is among the richest countries in South Asia in terms of natural resources. “Through the exploration and effective utilisation of the country’s abundant natural resources, the foundation for long-term economic prosperity can be established,” he said. 

According to him, the goal is not only to graduate Nepal from the category of Least Developed Countries (LDCs), but also to establish it as the country with the highest per capita income in South Asia.

He further noted that Nepal’s 57 per cent youth workforce, low production costs, favourable climate, and assured investment returns make the country an attractive destination for foreign investment. 

He emphasised that there is tremendous potential for investment in physical infrastructure, agriculture, hydropower, tourism, mining, herbs, and medicinal plants, and stressed the need to ensure policy clarity and foster an investment-friendly environment in these sectors.

Likewise, Agrawal mentioned that although the Gen Z Movement had an impact on the economy, the morale of the private sector remains high. He also urged the World Bank to reassess its projection of Nepal’s post-movement economic growth rate at 2.1 per cent, arguing that it does not reflect the real situation.

During the discussion, chairpersons of various NCC committees and business representatives presented issues, challenges, and recommendations for reforms related to agriculture, information technology, land and housing, energy, tourism, and the service sector.

World Bank Group representative Marcin Pitkowski emphasised the need to focus on institutional reforms, investment promotion, policy harmonisation, and innovation to strengthen Nepal’s private sector. The World Bank also presented a working paper outlining investment opportunities in Nepal, with a particular focus on policy stability and enhancing implementation capacity.