Investment policy reform discussed

By A Staff Reporter,Kathmandu, Feb. 9: A meeting of the Steering Committee of the third Nepal Investment Summit (NIS) has discussed the reports and projects related to policies, laws and structural reforms prepared in view of the summit. 

Speaking at the meeting held on Thursday, Minister of Finance and Coordinator of the Committee, Dr. Prakash Sharan Mahat, said that international investors are getting interested to invest in Nepal and instructed the concerned authorities to prepare projects seriously. 

"There is an unprecedented opportunity for us to attract investment, so the government will leave no stone unturned in legal and policy reforms to attract foreign as well as Nepali investors and non-resident Nepalis," he said. 

The main goal of the investment conference is to convey the message that Nepal is an excellent investment destination to the world community.

Ek Narayan Aryal, Coordinator of the Policy, Law and Structural Reform Working Group and Secretary of the Prime Minister's Office, presented a report on legal and policy reforms which included the inputs received in the meeting of the Investment Conference Implementation Committee chaired by the Chief Secretary. According to him, a bill to amend some Nepal Acts to facilitate investment would enter the parliamentary process soon. 

The task force aims to remove the legal and policy obstacles 

in industry, business and investment sectors and to remove the difficulties and delays experienced in 

the implementation of construction projects. 

For the same, amendments are proposed in the laws related to national parks and wildlife reserve, land and land acquisition, environment protection, electronic transactions, civil aviation, and foreign investment and technology transfer. 

Mukunda Niraula, Secretary of the Ministry of Industry, Commerce and Supplies, and Coordinator of the Technical Committee, made a presentation regarding the preparation of the projects to be presented at the NIS 2024. The technical committee has prepared a preliminary list of projects by classifying them in various stages of project study and proceeded with further homework, informed the Investment Board of Nepal (IBN).

Sushil Bhatta, Coordinator of the Investment Conference Secretariat and CEO IBN, made a detailed presentation about the overall preparations for the NIS. 

Ministers of various ministries, Vice-Chairman of National Planning Commission, Dr. Min Bahadur Shrestha, Chief Secretary Dr. Baikuntha Aryal, Governor of the Nepal Rastra Bank, Maha Prasad Adhikari, secretaries of various ministries, and private sector representatives were present at the meeting.