Ordinance to Amend Nepal Acts for Investment Facilitation Presented in House of Representatives

The ordinance to amend some of Nepal Acts for Investment Facilitation-2081 BS was presented in the House of Representatives (HoR) today. The ordinance, aimed at improving the investment climate through amendments to several acts of Nepal, was introduced by Minister for Industry, Commerce, and Supplies, Damodar Bhandari.

Minister Bhandari explained that the ordinance was issued to implement policy and legal reforms discussed during the Nepal Investment Summit held on April 28-29. At the time, the House was not in session, necessitating the revisions through an ordinance.

The ordinance includes provisions for the registration of startup industries, the extension of operational terms for industries, and clearer guidelines on the transfer of foreign investment technology. It also outlines facilities for industries located in special economic zones, among other measures aimed at enhancing investment facilitation in Nepal.