KUALA LUMPUR (April 29): The Federation of Malaysian Manufacturers (FMM) has signed a memorandum of understanding (MOU) with the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) to foster collaboration among businesses and enhance economic ties between Malaysia and Nepal.

The MOU was signed by FMM president Tan Sri Soh Thian Lai and FNCCI president Chandra Prasad Dhakal at the Nepal Investment Summit, organised by Nepal’s government from April 28-29, in Kathmandu, Nepal, the FMM said in a statement on Monday.

The trade association said among key areas of collaboration were facilitating business matchmaking and investment promotion activities, as well as exchanging market intelligence and information on trade and investment opportunities.

It said other key areas include organising business forums, seminars and trade missions to enhance networking among Malaysian and Nepali businesses, and supporting small and medium enterprises’ development and capacity-building initiatives.

Soh said that FMM recognises Nepal’s immense potential for investment and was committed to exploring avenues for collaboration and growth in the region.

“As such, the FMM led a delegation to attend the Nepal Investment Summit 2024, which presents a prime opportunity for investors, businesses and government representatives to explore investment opportunities and forge strategic partnerships in Nepal’s burgeoning economy.

“By fostering closer ties and promoting cross-border collaboration, FMM and FNCCI aim to unlock the full potential of the Malaysia-Nepal economic relationship,” he said.

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