Additional laws should be amended to foster an investment environment: FNCCI President Dhakal

KATHMANDU:Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI),  has said that several laws must be amended to encourage investment. At the 'Plast Nepal 2024' event in Kathmandu on Thursday, he noted that, despite the fact that the laws were revised through an ordinance during the investment conference last Baisakh, their rules and functioning processes had not been finalized.

He emphasized that the private sector is now confronting issues such as excise tax, wastage of manufactured goods, and prices, and that realistic decisions must be made and implemented in a timely way.

He stated, "The investment conference was held with the active participation of the government and private sector, and the laws were amended." However, their regulations and operating procedures are not yet ready. That issue needs to be addressed. Some rules must still be altered in order to encourage domestic or foreign investment.

He stated that the present government is prioritizing the private sector and discussions with business leaders, which he welcomed.

He thanked  the government for forming a high-level economic reform commission that included the private sector.  He also called on businessmen to give their suggestions on the laws that affected investment on a priority basis.He stated that if these issues were handled, economic changes could be completed quickly.