National Assembly endorses bill on amending some Nepal's acts for promoting investment

KATHMANDU, July 7: The National Assembly has unanimously endorsed the Bill to Amend Some Nepal Acts, aiming to enable an atmosphere conducive for investment.

A session of the upper house on Sunday passed the Bill along with the message from the House of Representatives regarding the Bill. 

Minister for Communications and Information Technology, Rekha Sharma, presented the Bill before the session on behalf of Prime Minister Pushpa Kamal Dahal who is also in charge of the Ministry of Industry, Commerce and Supplies.  The minister proposed the session to pass the Bill. 

National Assembly member Sonam Gyaljen Sherpa demanded the government present a clear modality of investment for the people of the buffer zone.        

Tul Prasad Bishwakarma urged the government to bear in mind the existing Foreign Investment and Technology Transfer Act while proceeding with the Bill while Bhagawati Neupane stressed the need for cooperation among the federal, province, and local governments in the course of implementing a project or operating industry along the buffer zones.

In response to lawmakers' queries, Minister Sharma said the amendment of some laws was mandated as per Nepal's commitments to enabling an investment-friendly atmosphere in the country it made during the April 28-29 Investment Summit. 

She said that revisions to the National Park Act, 2039 BS and the Forest Act are necessary and the relevant issues raised here will be further discussed and clarified during the amendment of those acts. 

The National Assembly shall meet again at 1:15 PM on July 11, Thursday. 

RSS