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 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 partnership seeks to connect the capital, skills, knowledge, technology, international experience and business networks of Nepalis living abroad with Nepal's economic development.

Under the agreement, NRNA and the Nepal Chamber will work together to facilitate foreign direct investment (FDI) as well as investment from non-resident Nepalis. The two organizations will also collaborate to promote trade, industrial development and stronger business relationships between entrepreneurs in Nepal and Nepali businesses operating abroad.

The organizations plan to jointly organize investment conferences, roadshows, business summits and other business-focused programmes. Such initiatives are expected to create direct opportunities for Nepali businesses and entrepreneurs to connect with NRN investors and international business networks.

The MoU also covers cooperation in promoting export-oriented industries, small and medium-sized enterprises (SMEs), startups and entrepreneurship. Joint programmes related to technology and knowledge transfer, innovation and capacity building will also be developed.

Another area of cooperation will be the exchange of economic and investment data, market information and research materials. The two organizations will also work with the government and other stakeholders to advocate for policy reforms aimed at creating a more investment-friendly business environment.

NRNA will use its global network of Nepali investors, entrepreneurs, professionals and experts to promote Nepal as an international investment destination. It will also seek to connect Nepali companies with overseas markets and potential international business partners.

The agreement includes provisions to encourage members of the Nepal Chamber to invest in projects promoted through the NRNA. This is expected to create more opportunities for collaboration between domestic businesses and NRN entrepreneurs.

Speaking at the signing ceremony, NRNA President Dr. Hemraj Sharma said Nepalis living abroad have resources that extend beyond financial capital. According to him, the NRN community also possesses skills, technology, management expertise, international experience and extensive business networks that can contribute to Nepal's development.

Sharma also highlighted the importance of connecting second-generation NRNs with Nepal. He said programmes would be developed to engage them through areas such as tourism, culture, entrepreneurship, investment and emerging technologies.

Nepal Chamber 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 cooperation with NRNA would help connect Nepal with the capital, knowledge, skills and business networks of Nepalis around the world.

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 partnership is expected to provide an institutional platform for attracting investment, expanding trade, increasing international markets for Nepali products and creating new business opportunities. It could also support the transfer of capital, technology and knowledge from the global Nepali community to Nepal.