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Class : 11
Unit : Business

Explain the formation of Federation of Nepal Chamber of Commerce and Industries (FNCCI). Describe the function of FNCCI.

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Ans : The FNCCI is an umbrella organization of the Nepalese private sector. It was established in 1965 with the aim of promoting business and industry while protecting the right and interest of business and industrial communities. The vision of FNCCI is “leading the nation’s economic progress”. It provides information advisory, consultative, promotional and representative service to business and government. It organizes training, workshop, seminar or regular basis to promote trade and industrial activities in Nepal. Functions of Federation of Nepal Chamber of Commerce and Industries (FNCCI). Ans:- The functions of FNCCI are described below with the following points: i) Maintain relationship with business communities:- An important function of FNCCI is to maintain good and smooth relationship among the business communities of Nepal. It should co-operate with all the business communities and find out acceptable solution to resolve the disputes. ii) Develop link with world business communities:- FNCCI should be able to develop and maintain a link between the national and international business communities. This is helpful to promote business relation at international level. iii) Organize trade and industrial fairs:- FNCCI organizes and participates in trade and industrial fairs at national and international level. It facilitates Nepalese business community to participate in such fairs and assist in promotion local business activities. iv) Establish economic institution:- It establishes and encourages establishing academic institution related to trade and commerce. Plus, it also conducts training, seminar and workshop to provide technical assistance in national and international level. v) Involve in social welfare activities:- FNCCI helps and supports charitable activities. It provides financial and technical support to the institutions involved in serving the society. Moreover, it has been providing free ambulance and corpse services in Kathmandu valley. vi) Economic development:- FNCCI plays important role of economic development of the country through participation of private enterprises and by providing technical, managerial and logistic support for the people those who want to involve in industrial, and commercial sector. vii) Promotes export and investment:- FNCCI prepares recommendation and formal documents necessary to promote export business of Nepal. Besides, it recommends for home and foreign investment to promote industry and commerce.
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