NRN Association, Nepal Chamber Sign MoU to Promote Investment and Trade

The Non-Resident Nepali Association (NRNA) and the Nepal Chamber of Commerce (NCC) have signed a Memorandum of Understanding (MoU) aimed at promoting investment, expanding trade and business, and strengthening economic cooperation in Nepal. NRNA President Dr. Hemraj Sharma and Nepal Chamber of Commerce President Kamlesh Kumar Agrawal signed the agreement on behalf of their respective organizations. The agreement seeks to connect the capital, skills, knowledge, technology, international experience, and business networks of Nepalis living abroad with Nepal’s economic development. Under the MoU, the NRNA and Nepal Chamber will facilitate the inflow of foreign direct investment (FDI) and investment from non-resident Nepalis, while also collaborating to promote trade and industrial development. The two organizations will work to strengthen business relationships and networks between domestic entrepreneurs and Nepali businesses operating abroad. The organizations will jointly organize investment conferences, roadshows, business summits, and other business-oriented programs. These initiatives are expected to connect Nepali businesses and entrepreneurs directly with NRNs and international investors, creating opportunities for new investments and business partnerships. The agreement also covers joint initiatives to promote export-oriented industries, small and medium-sized enterprises (SMEs), startups, and entrepreneurship. Programs related to knowledge and technology transfer, innovation, and capacity building will also be conducted jointly. The two organizations will exchange economic and investment-related data, market information, and research materials. They will also jointly engage with the government and relevant stakeholders to advocate for policy reforms aimed at improving Nepal’s investment and business environment. NRNA will mobilize its network of NRN investors, entrepreneurs, professionals, and experts worldwide to promote Nepal as an international investment destination. It will also work to connect Nepali businesses with international markets and potential business partners.

The agreement includes provisions to encourage and facilitate investment by Nepal Chamber members in various projects promoted by the NRNA. It also aims to strengthen collaboration between local Nepali businesses and NRN entrepreneurs. Speaking at the signing ceremony, NRNA President Dr. Hemraj Sharma said Nepalis living abroad possess not only capital but also valuable skills, technology, management expertise, international experience, and extensive business networks. He said the NRNA would prioritize connecting these resources with Nepal’s development. He also highlighted the need to engage second-generation NRNs with Nepal and said programs would be introduced to connect them with Nepal through tourism, culture, entrepreneurship, investment, and emerging technologies. Nepal Chamber of Commerce President Kamlesh Kumar Agrawal said policy clarity, effective implementation, and an investment-friendly environment are essential for Nepal’s economic development. He expressed confidence that collaboration with the NRNA would make a significant contribution to connecting the capital, knowledge, skills, and business networks of Nepalis worldwide with Nepal’s economic development. The MoU will remain effective for five years from the date of signing and can be renewed through mutual agreement between the two organizations. The NRNA has described the agreement as an important institutional partnership aimed at attracting investment to Nepal, expanding trade, increasing the international market for Nepali products, creating employment opportunities, and promoting the transfer of capital, technology, and knowledge.