NC to file amendment proposal on Investment facilitation bill

KATHMANDU, JUNE 27: The main opposition party, Nepali Congress (NC), has decided to file a collective amendment proposal on the Investment Facilitation Bill. A meeting of the NC parliamentary party held yesterday in Singha Durbar made this decision after consultation with a section of entrepreneurs, industrialists, and investors on the bill.

A decision was made to submit a group amendment proposal seeking legal reforms in the bill, which is not considered investment-friendly, said House of Representatives (HoR) member Nagina Yadav, who also attended the meeting. The amendment proposal will be registered on behalf of the NC parliamentary party, based on the recommendations of industrialists, entrepreneurs, and investors, she further shared.

Lawmaker Yadav stated there was a need for eight-point amendments to the bill to facilitate foreign investment. The amendment proposal will address areas including land ceiling, land acquisition, forest, public-private partnership investment, and the Special Economic Zone.

As a party with a commitment to liberal democracy, the NC has explored alternatives and flexible measures to attract foreign investment. The entrepreneurs had also voiced their complaints about not addressing their inputs and recommendations on the bill during earlier discussions.

NC's assistant general secretary said the parliamentary party held consultations with experts and stakeholders on the investment bill as part of its routine discussions on various bills. According to him, the entrepreneurs recommended that the NC emphatically propose amendments to bring reforms to the investment facilitation bill. Chiefs and representatives of the umbrella organization of industrialists and entrepreneurs attended the discussion on behalf of the business community.

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