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In 2024, 16 members have been added to the American Chamber of Commerce in Nepal (MCHAM), which was established with the aim of bringing American investment into Nepal and establishing commercial relations between the two countries. Along with this, the number of Mcham members has reached 54.
In the general assembly held in Kathmandu, Mcham stated that the membership has increased and also presented the future action plan along with the review of the last one year. Speaking at the event, Siddhant Mehra, Executive Director of US Chamber of Commerce, South Asia, praised the role played by MCHAM in Nepal within a short period of its establishment.
Nirmalkaji Shrestha, president of MCHAM, mentioned that 2024 is an important year for MCHAM and said that it is active with the aim of creating new investment opportunities in Nepal and strengthening the trade relations between Nepal and America. Shrestha mentioned that MCHAM has been advocating for solving various problems facing foreign investment in Nepal and also holding high-level meetings.
President Shrestha expressed his happiness that Mcham, which was established in 2021 under the leadership of Ajit Bikram Shah and with the unprecedented support of the American Embassy in Nepal, has been established as a multifaceted and influential professional group today.
On that occasion, in the last one year, Mcham has formally lobbied for the interests of its members 58 times. Advocacy has been advanced through 20 high-level meetings and 60 articles on various topics. In the meantime, Amiraj Thapa, General Manager of Amiraj said that Mcham has accumulated Rs. 31 lakh 50 thousand in the fund.
Amcham has continued its activities throughout the year through various formal and informal programs. Last April, the organization interacted with Atul Keshav, Ambassador of the US Chamber of Commerce, on trade relations between Nepal and the United States, and the members also interacted with the United States Patent and Trademark Office and the United States Trade and Development Agency.
In addition to meeting with the Prime Minister last April, MCHAM's delegation also met and discussed with Rekha Sharma, former minister of the Ministry of Communications and Information Technology, Secretariat, Minister of Energy and Irrigation and officials of the US State Department in Washington DC.
In view of the growing use and potential of technology, Mcham also organized the Tech Pick ICT conference on the eve of the investment conference in 2024. Amcham mentioned that during this period, USAID, World Bank, European Union, Asian Development Bank as well as the government and the private sector were successfully brought together.
Amcham has mentioned that the interested parties have also issued a joint press release to draw the attention of the government regarding the value added tax imposed on American companies. In addition to that, it is said that it is also working on research related to trade policy, transfer pricing, etc.
Amcham has continued the expert learning series. MCHAM has also signed an agreement with Confederation of Nepal Industry (CNI) and The Nepal Private Equity Association. In addition, the International Trade Administration of the US Department of Commerce has also signed an MOU.
Mcham has stated that it has prioritized 6 different sectors for investment in Nepal. These include tourism, ICT, energy, manufacturing industry, infrastructure development and financial sector. In addition to that, Mcham has been advocating for policies in areas such as tax compliance, sweat equity, IT and cyber security bill, source code ownership, ecommerce bill.
