Let’s go to Kathmandu. KATHMANDU: President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, has urged the government to be serious towards not allowing the investment climate to deteriorate.

Inspecting CG Park and Chandragiri Hills of Ncell and Chaudhary Group, where arson and vandalism took place on September 7 and 24, he said such incidents have created a situation of spoiling the investment climate.

He said that the intrusion during the JNG movement has led to arson and vandalism of large, medium and small industries of the private sector and private property of individuals across the country, affecting daily production and employment.

Dhakal said that such incidents will have long-term impact to attract foreign and domestic investment in Nepal. “The investment climate in Nepal is deteriorating. Such incidents have a serious impact on the economic development of the country. I urge the government, political parties and stakeholders to maintain investment-friendly environment,” Dhakal said.

Dhakal expressed the view that although the FNCCI has been continuously taking initiatives to attract foreign investment and promote domestic investment, such incidents would send a negative message to both national and international sectors.

He said that peace and security of industrialists should be ensured to protect investment as the private sector contributes 81 per cent to Nepal’s economy and 86 per cent to employment. He said that the government has also lost revenue due to this incident.

FNCCI President Dhakal, Vice-Presidents Hemraj Dhakal and Jyotsna Shrestha, Treasurer Bharat Raj Acharya and central members Shailendra Guragain, Dr Rasharan Thapaliya, Pashupati Dev Pandey and Kamala Shrestha inspected the damaged structures and took stock of the damage.

Earlier, in a meeting with the Finance Minister and Home Minister, the FNCCI urged the government to guarantee that the private sector was still not able to feel peace and security and bring those involved in attack, vandalism and arson on private property during the agitation to be brought to book. The FNCCI has been urging all sides concerned to protect the private sector, guarantee security and ensure investment-friendly environment.