Nepal s first billionaire Binod K Chaudhary receiving a crest from ICC,B President Mahbubur Rahman and MCCI President Rokia Afzal Rahman at the reception programme in the city on Friday. ICC,B vice president Latifur Rahman also seen in the picture.
Nepal s first billionaire Binod K Chaudhary urged businessmen of smaller SAARC nations (South Asian Association for Regional Cooperation) to take part in politics and bring economy to the fore.
“We have to bring economics into the centre stage of politics…. or unless we (businessmen) will continue to struggle…our opportunities and our resources will remain unexploited,” he said while speaking at a reception programme in the city.
International Chamber of Commerce (ICC), Bangladesh accorded the reception for him for being the first billionaire of Nepal ranked buy Forbes.
The chairman of the Chaudhury Group that owns nearly 80 companies with interests in banking, foods, cement, real estate, hotels, power, retail, and electronics spoke on Friday night during reception.
Introducing Binod K Chaudhury to local and foreign diplomats, business leaders, economists and eminent personalities, ICC President Mahbubur Rahman said his grandfather was a small trader back in 1933 from where they grew with substantial presence in almost every sector.
“The only unexplored area for business is the Antarctic…and I am sure it will not be long before he ventures there as well,” he said.
Mr. Chaudhury built much of his estimated $1 billion fortune overseas through his Singapore-based arm Cinnovation during Maoist revolt in Nepal.
Depicting Chaudhury Group s early history of business empire, Mahbubur Rahman said, “what I admire most is that they started the industries at a time when Nepal was neither infrastructureally prepared nor geographically positioned to keep pace with the western world; yet, he persevered.”
“Mr Binod not only confined in business and profit but also engaged in elaborate social responsibility programme, where a large number of people are benefiting,” the ICC,B President said.
In his speech, Binod expressed dissatisfaction about role of South Asian Association for Regional Cooperation mechanism and SAARC chamber in dealing with regional issues.
“Despite the presence of decades-old SAARC and 19 years of engagement of SAARC chamber, the region has not been able to really evolve let alone as common market or introducing common currency, not even as free trade regime,” he said.
He focused on current situation of the SAARC member states, particularly India s influence.
“Dealing with India is easy. But it is not easy for one small nation to deal with another. For example, for Nepal to deal with Bangladesh and Bangladesh with other smaller nations continue to be a challenge,” he said.
He said, “I firmly believe that entrepreneurs with strong skills and caliber of smaller countries under SAARC can shine anywhere in the world in any fields.”
He hoped that Bangladesh would produce many more entrepreneurs in coming days and they will join in the league of billionaire.
Stressing on working together, particularly smaller countries like Bangladesh and Nepal, he said the opportunities everyone talked two-decades earlier, still remains as opportunities.
“We have to work together not only in businesses, but perhaps also through participation in politics in our own way,” he said.
“We are still struggling. We can light up the whole of India, given the natural hyro power resources of the country. But today Nepal is an importer of power,” he said adding that it was due to the lack of absence of economy in the politics.
Admiring the idea of social business introduced by Nobel laureate Muhammad Yunus, he said that the concept of social business left a long lasting imprint on his mind in terms of to do something for the society without expecting any returns or dividends.”
The group signed an agreement with the Yunus Centre to start social business in Nepal, he said.
Binod hails from a business clan with Indian roots. His grandfather Bhuramal Chaudhary, a textile trader from Rajasthan, migrated to Nepal in the 19th century. He opened a small textile store that used to supply goods to the erstwhile rulers. Chaudhary s father, Lunkaran Das, converted that into Arun Emporium, Nepal s first department store. The eldest of 3 siblings, Chaudhary joined the business at age 18, giving up his plan to study accounting in India when his father developed a heart ailment. The group had 400 people then versus 7,500 today.
He has also been a member of the Constituent Assembly and Parliament of Nepal from April 2008 to May 2012.
Prime minister s adviser on international affairs Gawher Rizvi, BRAC chairman Fazle Hasan Abed, ICC-Bangladesh vice-president Latifur Rahman, Centre for Policy Dialogue s distinguished fellow Debapriya Bhattachary, senior Supreme Court lawyer Rafiq-ul- Haque, the Federation of Bangladesh Chambers of Commerce and Industry former presidents Abdul Awal Mintu and Annisul Huq, Bangladesh Employers Federation president M Fazlul Haque, Bangladesh Garment Manufacturers and Exporters Association former president Anwar-Ul Alam Chowdhury Parvez, Prothom Alo Editor Matiur Rahman, Metropolitan Chamber of Commerce and Industry (MCCI) President Rokia Afzal Rahman am diplomats from different countries, among others, were present at the reception.
