False information detrimental to investment atmosphere: FNCCI President Dhakal

Kathmandu: President of the Federation of Nepalese Chamber of Commerce and Industries (FNCCI), Chandra Prasad Dhakal, has said false information making rounds on social networking sites, is detrimental to investment atmosphere.

It also puts down the morale of private sectors, he added. President Dhakal claimed, “We faced how devastative it was during the Gen Z protest where false information played a role. Private sector faced huge loss due to misinformation.”

Communications media have significant roles in attracting domestic and foreign investment for national industry and development, he said, adding that good governance, corruption control and smooth public service are prerequisites to investment climate.

He argued, “Private sector is an engine of economy. But it is worrying is see the private sector bearing the brunt during the political protests. Dhakal, however, said time has come to foil the narrative that belittles achievements in the country. Confederation of Nepali Industries, Birendra Raj Pande, informed that State needs taking intervention at a time when the investors are disheartened.

“Why is not investment augmented despite adequate deposits in banks and financial institutions and reform in interest rate,” he wondered. Nepal has not been able to fully recover the economy dented much by the Covid-19, said Kamalesh Kumar Agrawal, Chairperson of Nepal Chamber of Commerce, adding that the recent time has been further hostile to industrial activities.

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