NC to file amendment proposal on Investment Facilitation Bill

KATHMANDU: Nepali Congress (NC), the main opposition party, has decided to file a collective amendment proposal on the Investment Facilitation Bill.

Following consultations with entrepreneurs, industrialists, and investors regarding the investment facilitation bill, the NC parliamentary party made this decision during a meeting held in Singha Durbar, Kathmandu, on Wednesday. House of Representatives (HoR) member Nagina Yadav, who also attended the meeting, emphasised the need for legal reforms in the bill, which is currently not investment-friendly.

The proposed amendments, based on recommendations from industrialists, entrepreneurs, and investors, will address key areas such as land ceiling, land acquisition, forests, public-private partnership investments, and Special Economic Zones. As a party committed to liberal democracy, the NC is exploring flexible measures to attract foreign investment.

During earlier discussions, entrepreneurs expressed dissatisfaction with the bill's handling of their input and recommendations. The NC's assistant general secretary stated that the parliamentary party engaged in consultations with experts and stakeholders, leading to the recommendation for an emphatic amendment proposal to enhance investment facilitation.

Representatives from the umbrella organisation of industrialists and entrepreneurs actively participated in the discussion on behalf of the business community.