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The American Chamber of Commerce (MCHAM) submitted a memorandum to the government of Nepal and gave various strategic suggestions to improve the investment environment. In the memorandum, it has been emphasized that a favorable environment should be created for the development of various commercial sectors and for strengthening the economic relations between Nepal and America.
It has been suggested to initiate the expansion of American investment in Nepal's agriculture and consulting services. Similarly, Mcham said that the business registration process should be made easier for investments above 200,000 US dollars .
Amcham has demanded an initiative from the industry department to make the registration process simple and fast. It is said that foreign businessmen will be excited to bring capital and invest in Nepal. Similarly, Mcham demands that the process of returning the earned amount should be made easy and convenient.
Mcham has also expressed interest in the possibility of large investments by American technology companies in the rapidly growing information technology sector. This has drawn the attention of the Nepal government to make favorable and flexible rules. If that happens, Mcham says that Nepal will become an attractive destination for international technology companies.
Tax rates should be fixed is another important issue raised by Amcham. The memorandum also mentions the need to create a stable and predictable tax environment for investors. This will create a long-term investment environment and American investors will have confidence in Nepal.
Amcham has asked the government of Nepal to make clear rules for the ride-sharing industry to promote investment while ensuring competition and consumer protection. On the issue of double taxation system, MCHAM has also requested the Government of Nepal to take initiatives to implement the Double Tax Elimination Agreement with the US.
Amcham has also suggested to simplify the visa process for American investors. It is claimed to make the process of establishing or expanding business in Nepal easier.
MCHAM has also requested special initiatives from the Nepalese government for the use of American tunneling machines (TBMs) and assistance in large energy and infrastructure projects through the investment of American agencies. It is said that this will improve Nepal's infrastructure and provide an opportunity to support American-Nepalese companies in major development projects.
HCHAM has also demanded for stronger implementation of money laundering policy along with VAT issues and reform of tax structure .
Along with the use of social media, Mcham has urged the government to adopt a balanced and thoughtful approach to the law. Amcham says that this will protect local interests and also help in the growth of the digital economy.
Similarly, Mcham has also recommended to arrange bank assurance to provide financial security to Nepali citizens.
