NCC, NRNA sign MoU for investment promotion, trade expansion

Kathmandu / Aug 23: Nepal Chamber of Commerce (NCC) and Non-Resident Nepali Association (NRNA) have signed a Memorandum of Understanding (MoU) aimed at promoting investment, trade, and business expansion and economic cooperation.

NCC President Kamlesh Kumar Agrwal and NRNA President Dr Hemraj Sharma signed the document amidst a programme here on Sunday.

On the occasion, NCC President Agrawal expressed his hope that the MoU would pave the way for bringing in more foreign investment.

NRNA President Dr Sharma complained of several issues in promoting the foreign direct investment due to various legal complexities in Nepal. “The MoU will of course facilitate at the policy level in creating atmosphere conducive for bringing in additional foreign investment.”

As per the agreement, the NCC and NRNA will collaborate in organsing the Investment Conference, Road Show, Trade Summit and other business events.

Similarly, both parties will cooperate on promotion of export-oriented industries and small and medium enterprises (SMEs) and startups. training, workshops and seminars for capacity building will be the joint initiatives of both sides.

On the occasion, Agrawal was of the view that stability and clarity in economic policy and legal structures are prerequisite to fully promote foreign investment. “This MoU should not be restricted just to paper,” he said, echoing the need to put into practice and deliver concrete results in the areas of investment, trade, employment and economic transformation.

As pledged by NRNA President Sharma, a campaign will be implemented to connect the skills, knowledge, experience and capital of Nepalis around the world with Nepal’s development endeavours.

He stressed that the NRNA should not function as an organization for those living abroad but also be established as a common platform to contribute to Nepal’s economic, social and investment development by uniting Nepalis living in different countries around the globe.RSS