A memorandum of understanding on investment promotion and cooperation has been signed between the Federation of Nepal Industries and the Federation of Thai Industries.

During Prime Minister KP Sharma Oli's official visit to Thailand, the confederation said that there was an understanding between the private sectors of the two countries for investment promotion, expansion of economic and commercial relations.

The MoU was signed by Federation President Rajesh Kumar Agarwal and Federation President Kriengrai Thennukul. "In addition to investment and trade promotion, there has been an agreement between the two organizations to cooperate in economic and trade related studies, research, training and capacity development, information sharing on legal and policy matters," said the press release issued by the Confederation.

Since Nepal is a suitable destination for foreign investors, Agarwal, the president of the confederation, expressed the belief that this agreement will help bring in investment from Thailand. He said, 'The government has made legal reforms to promote investment, from which investors will be able to benefit.'