KATHMANDU, Mar 6: Nepal Policy Institute (NPI) has presented its recommendations and proposals concerning Foreign Investment Bill 2019 for consideration of the Government of Nepal. Issuing a press statement, the institute has said that the proposal has already been forwarded to the government through the National Planning Commission.
It has been reported that NPI has urged the government to amend the bill and proposed to treat Non-Nepali national, Nepali Diaspora and people of Nepali-origin equally in the matter of investment and ask the government to allow Investors for making investments with 100% ownership of enterprises.
Expediting development
According to Chairperson Khagendra Dhakal of the institute, the proposal has urged the government to ensure former Nepali citizens and Nepal-origin individual to have the same investment rights as that of a Nepali citizen. Likewise, in its recommendation for the amendment, the institute has pointed the need of the investor with foreign owned capital to purchase foreign currency for business purposes from commercial banks.
Chairperson Dhakal informed that these recommendations and proposals are the result of consultations within residential and Nepali diaspora scholars, economists and business managers in Nepal, North America, Europe, Australia, Japan, Thailand, and Singapore and reflect the best practices in South-East Asia which is a hub of economic growth of this century.
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