NICCI brings an investor's handbook targeting Indian investors
January 13, 2019 04:00 AM NPT
KATHMANDU, Jan 13: Nepal-India Chamber of Commerce and Industry (NICCI) has unveiled an investor's handbook targeting to facilitate Indian investment in Nepal.
The book 'Investing In Nepal: A Handbook for Indian Investors', prepared by NICCI and Embassy of India in Kathmandu, is expected to boost foreign direct investment in Nepal from Indian entrepreneurs.
The book has incorporated a number of issues, from company and industry registration, availability of human resources, taxation, import-export laws and practices, means of dispute resolution, among others.
Addressing its 24th Annual General Meeting (AGM), NICCI's president Saurya SJB Rana said on Friday that the book contained answers to most of the questions of Indian investors.
"This is to provide further impetus to investments from India in Nepal. The chamber has come up with a concise and compact handbook which covers most of the questions relevant to investors to understand our legal framework and evaluate business opportunities in Nepal," said Rana.
The handbook is essentially in the form of questions and answers, making for easy reading and referencing, according to Rana.
Rana also highlighted few important policy and process bottlenecks that have hindered big investments from coming to Nepal.
"The mandatory requirement announced in this fiscal year's budget speech, that a productive sector company with investment of Rs 1 billion or more should to be listed in Nepal Stock Exchange Ltd, will be counter-productive," he said.
NICCI has also stressed on the need for immediate revision of outdated intellectual property rights policy, stating that such revision was crucial to attract large-scale multinational investments into the country.
The chamber has also stated that the inordinate amount of time taken for repatriation of genuine dividends and payment of agency fees has been a matter of tremendous concern for most of the multinational and bilateral companies.