Samriddhi Foundation launches Legislation Repository, website for Nepali entrepreneurs

KATHMANDU: Samriddhi Foundation has launched Legislation Repository — a website developed by Samriddhi that provides all relevant information required for starting and operating a business and bringing in investment in Nepal. The website launch was followed by a panel discussion on ‘Facilitating Legislative Harmonization’, featuring Narayan Prasad Sharma Duwadee, Joint Secretary at the Ministry of Industry, Commerce, and Supplies (MoICS), Member Secretary Kewal Prasad Bhandari, National Planning Commission, Economist Chandan Sapkota, and investment law expert Aayushi Koirala and was moderated by Advocate Semanta Dahal. The Legislation Repository aims to help aspiring entrepreneurs understand the procedures for doing business in Nepal and facilitate foreign investors in identifying the mechanisms for investing in Nepal. The website has four sections — Starting a Business, Bringing in Investments, Paying taxes and Applicable laws (Sectoral laws as per International Standard of Industrial Classification). Each section contains several details pertinent to the theme which should help users gain insight into the procedures, the government agency responsible, the fees applicable, the characteristics of a particular business type, and compliances and approvals required. The panel discussion on  ‘Facilitating Legislative Harmonization’ delved into finding possible alternatives that integrate the myriad policies and laws on regulation, monitoring and compliance and eventually reduce the cost of starting and operating an enterprise or bringing in investment in Nepal. MoICS Joint Secretary Duwadee said, “Legal harmonization will help ensure that entrepreneurs can operate their enterprises smoothly at every step, from the starting the business until the exit. Such harmonization is key to creating a conducive environment for entrepreneurship and attracting foreign investors.” Likewise, speaking at the discussion, Bhandari remarked, “In 2039, we introduced the Foreign Investment and Technology Transfer Act (FITTA). The single-window system was one of the major milestones of the first generation reforms in Nepal. However, we are still struggling to operate one-window offices in Nepal. Our neighbouring countries, India and China, have been providing services from one-window offices, but we have not been able to offer services from such offices.” The program was attended by members of government bodies, such as the National Law Commission, members of private institutions, entrepreneurs and businesses, journalists, public policy think tanks, lawyers, economists. The live broadcast of the event can be viewed here. Samriddhi Foundation is an economic policy think tank, which conducts independent research and advocates for policy reforms via engagement with stakeholders from the public, private sectors and civil society. READ ALSO:

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