November 8: Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), emphasized the need to boost bilateral investment cooperation between Nepal and South Korea to address a growing trade imbalance.

 Speaking at the Nepal-Korea Investment Conference, Dhakal highlighted the substantial trade deficit between the two nations, with Nepal's exports to South Korea being considerably lower than its imports.

 He encouraged increased South Korean investment in Nepal, particularly in the energy, tourism, agricultural processing, and information and communications sectors, all of which are vital to Nepal's economy.

Dhakal noted the presence of over 350 Korea-funded enterprises in Nepal, underscoring Nepal's appeal as an attractive investment destination for South Korea.

He suggested that Nepal could harness its natural and human resources by adopting modern technology from Korea, benefiting both countries and facilitating South Korea's trade expansion in South Asia.

Furthermore, Dhakal stressed the importance of Nepal's partnership with South Korea in diversifying its developing economy.

He called for the swift approval of Nepali banks to operate branches in South Korea, as this would foster trade and investment growth.

Dhakal also encouraged Korean investors to explore opportunities for joint investments in technical and vocational education in Nepal, given the significant number of Nepali workers in South Korea.  (RSS)