Kathmandu, July 10: Immediate Past President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and Chairman of IME Group Chandra Prasad Dhakal has called on investors from the United Arab Emirates (UAE) to expand their engagement in Nepal, saying the country is ready for greater foreign investment and long-term economic partnerships.
Speaking at a dinner reception hosted in honour of UAE Minister for Foreign Trade Dr. Thani Ahmed Al Zeyoudi and a high-level UAE government and private sector delegation at Chandragiri on Thursday evening, Dhakal said Nepal and the UAE should transform their longstanding friendship into a stronger partnership driven by investment, innovation and entrepreneurship.
Congratulating the UAE on its remarkable economic transformation over the past five decades, Dhakal described the country’s development as an inspiration for nations like Nepal. He said the UAE’s success in trade, finance, tourism, innovation and technology reflects visionary leadership, investment-friendly policies and a commitment to sustainable development.
Referring to the upcoming Golden Jubilee of diplomatic relations between Nepal and the UAE in 2027, Dhakal said the milestone presents an opportunity to elevate bilateral relations beyond labour migration and remittance towards investment, trade and joint ventures.
“The time has come to take our relationship to the next level through greater investment, trade and business partnerships,” he said.
Dhakal welcomed the ongoing discussions on the Bilateral Investment Agreement (BIA), Double Taxation Avoidance Agreement (DTAA) and Comprehensive Economic Partnership Agreement (CEPA), expressing hope that these frameworks would be concluded in the near future.
“These important agreements will further enhance investor confidence and create a more enabling environment for businesses in both countries,” he said, while acknowledging the initiative and support of UAE Ambassador to Nepal H.E. Abdulla Al Shamsi in advancing these discussions.
Highlighting Nepal’s investment potential, Dhakal said the country offers attractive opportunities in hydropower, tourism, digital payments and fintech, transport and urban infrastructure, agriculture, manufacturing, logistics and industrial development.
He said the UAE’s expertise in infrastructure, tourism, logistics, renewable energy, finance and technology aligns well with Nepal’s development priorities, creating significant prospects for joint ventures.
Sharing IME Group’s experience, Dhakal said the group’s longstanding partnership with the UAE spans banking, remittance and digital payment services through collaboration with leading UAE financial institutions.
He added that IME Group is also exploring new investments in tourism infrastructure, including cable cars, luxury resorts, hydropower and integrated theme parks, where collaboration with UAE investors could help develop world-class tourism destinations in Nepal.
Recalling the Nepal-UAE Business Summit organised on the sidelines of COP28 in Dubai during his tenure as FNCCI President and his participation in the World Governments Summit, Dhakal said such engagements have reinforced his confidence that the UAE considers Nepal a promising investment destination.
“Nepal is ready. This is the right time to invest in Nepal,” he said, urging UAE investors to partner with Nepal’s private sector in building businesses that generate employment, promote innovation and deliver shared prosperity for both countries.
