Kathmandu, March 1
Ahead of the ambitious Nepal Investment Summit, the government has finalised the draft of a new law to regulate the projects with foreign direct investment that proposes easing bureaucratic hassles for the investors.
The government has recently registered the bill to amend and integrate laws related to foreign investment and technology transfer in Parliament.
In the bill, the government has proposed opening a separate office dedicated to the FDI projects which will be authorised to provide all services to the projects.
However, the bill has stricter provisions to control the tendency of announcing the projects and deferring their implementation.
Once the new law comes into force, the approval to launch the project will turn void if the investors fail to begin works, without any valid reason, within two years of the approval.
Experts say if Parliament approves the bill as it is, it will significantly help the government woo the investors.
