We use Google Cloud Translation Services. Google requires we provide the following disclaimer relating to use of this service:
This service may contain translations powered by Google. Google disclaims all warranties related to the translations, expressed or implied, including any warranties of accuracy, reliability, and any implied warranties of merchantability, fitness for a particular purpose, and noninfringement.
President Ramchandra Paudel has issued an ordinance on investment facilitation. On the recommendation of the Council of Ministers, President Paudel on Sunday issued 'Ordinance to Amend Some Nepal Acts on Investment Facilitation, 2081'.
The government has brought an ordinance to amend some laws according to the suggestions of national/international investors in order to facilitate investment. Finance Minister Varshman Pun told Kantipur that the certification of the ordinance will also prove to investors that Nepal is more investment friendly. Finance Minister Pun said that the work of sovereign credit rating has already started and will be completed within a few months. He said that Nepal's economy, investment policy, potential areas of investment are open to the world, liberal policies have been adopted and the environment and policies and rules will be more investment-friendly than in the past.
The Council of Ministers meeting held on May 10 brought the 'Act to amend some Nepal Acts related to Investment Facilitation, 2081' through an ordinance. "To recommend to the Honorable President to issue an ordinance to amend some Nepal Acts related to investment facilitation," said the decision of the Council of Ministers. The government has brought the ordinance by amending various provisions of 10 Acts.
This includes the Land Act, 2021, National Parks and Wildlife Protection Act, 2029, Wildlife Protection Act, 2029, Land Acquisition Act, 2034, Electronic Transactions Act, 2063, Special Economic Zones Act, 2073, Public-Private Partnership And Investment Act, 2075, Foreign Investment and Technology Transfer Act, 2075, Forest Act, 2076 and Industrial Business Act, 2076 are about to be amended.
Various ministries and agencies of the government had previously sent recommendations to the Ministry of Law to amend various provisions of the 8 Acts. After further study and consultation, the Ministry of Law concluded that 10 Acts should be amended and prepared an ordinance and submitted it to the Council of Ministers on Monday. President Ramchandra Paudel issued an ordinance as per the recommendation of the Council of Ministers, and the provisions made there will immediately come into force as a law.
