Minister Bhandari presents investment facilitation ordinance at HoR session

KATHMANDU: Minister for Industry, Commerce and Supplies, Damodar Bhandari, today presented the Ordinance to Amend Some of Nepal Acts for Investment Facilitation, 2081, to the House of Representatives (HoR). 

At the start of the HoR session, Minister Bhandari introduced the ordinance, which is designed to foster an investment-friendly environment through amendments to certain Nepal acts. 

During his presentation, Minister Bhandari explained that the ordinance for investment facilitation was promulgated to bring about policy and legal reforms in line with the Nepal Investment Summit, which was held on April 28-29. 

He further clarified that, as the House was not in session at the time, the acts were revised via the ordinance. This ordinance facilitates the registration of startup industries, extends the operational duration of industries by providing further clarity on the transfer of foreign investment technology, and outlines the facilities available to industries located within the special economic zones, among other provisions.

(With inputs from RSS)