Taskforce recommends amendment to 12 acts, regulations

KATHMANDU: A taskforce formed by the government to recommend legal reforms to foster an investment-friendly environment in the country has proposed amendments to a dozen of acts and regulations.

The government formed the taskforce under the leadership of the Secretary at the Office of the Prime Minister, Eek Narayan Aryal, to suggest legal reforms ahead of the 3rd Nepal Investment Summit scheduled for April 21-22 in Kathmandu. The taskforce submitted its report to Chief Secretary Dr Baikuntha Aryal on Monday. In its report, the taskforce has suggested making amendments to 12 laws and regulations to create enabling environment for domestic and foreign investment in the country.

The taskforce has suggested the government to amend Industrial Enterprises Act, Foreign Investment and Technology Transfer Act, Special Economic Zone Act, Forest Act, and National Parks and Wildlife Conservation Act, Lands Act, Land Acquisition Act, Environment Conservation Act, Electronic Transaction Act and Civil Aviation Act 2053, and Foreign Investment and Technology Transfer Regulations and Forest Regulations.

The acts and regulations will be amended through the Bill to Amend Some Nepal Acts after the proposal is approved by the Council of Ministers.