Kathmandu, Dec 1: President of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI), Chandra Prasad Dhakal, has said that false information circulating on social media is harming the country’s investment environment and discouraging the private sector.
“We experienced how devastating misinformation can be during the Gen Z protest. The private sector suffered huge losses due to the spread of false information,” President Dhakal noted.
He emphasized that communication media play a vital role in attracting domestic and foreign investment for national industry and development. Good governance, corruption control, and smooth public service delivery are essential to creating a favourable investment climate, he added.
“The private sector is the engine of the economy, but it is concerning to see it bearing the brunt during political protests,” Dhakal said. He stressed that it is time to counter narratives that undermine the nation’s achievements.
Similarly, Confederation of Nepalese Industries representative Birendra Raj Pande said that the State needs to intervene at a time when investors are discouraged. “Why is investment not increasing despite adequate liquidity in banks, financial institutions, and reforms in interest rates?” he questioned.
Nepal Chamber of Commerce Chairperson Kamalesh Kumar Agrawal stated that the country’s economy has not fully recovered from the damage caused by COVID-19, adding that the current period has become even more challenging for industrial activities.
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