Kathmandu, Dec. 18
The American
Chamber of Commerce in Nepal (AmCham Nepal) has suggested reforms across
diverse sectors, emphasising the need to create a favourable environment for
business growth and bilateral cooperation.
In a comprehensive
memorandum to the Government of Nepal, presented to the Deputy Prime Minister
and Minister for Finance, Bishnu Prasad Paudel, AmCham Nepal has outlined strategic
recommendations to enhance the country’s investment climate and foster stronger
economic ties between the United States and Nepal.
The organisation's Chairperson Nirmal Kajee Shrestha and board member Samrath
Mogha discussed with DPM Paudel the critical role of US investments in
fostering inclusive economic growth in Nepal.
The delegation
emphasised how collaboration with AmCham Nepal could drive innovation, create
jobs and build a dynamic economy through US investments, it said in a statement
on Wednesday.
AmCham Nepal underscored the importance of introducing favourable policies and
regulatory frameworks to attract and sustain foreign investments.
"Such
measures are crucial for ensuring a business-friendly environment where US
investors feel confident in contributing to Nepal’s sustainable
development," said Mogha.
The memorandum included issues like facilitating the smooth repatriation of
post-tax profits, unlocking the potential of the ICT industry to generate
significant revenue for Nepal, ensuring tax stability for businesses,
addressing ride-sharing regulations, revising Service VAT Tax policies,
enhancing the Double Tax Avoidance Agreement (DTAA), and strengthening measures
to combat anti-money laundering.
"The recommendations aim to address key challenges faced by US companies
operating in Nepal, enabling them to contribute effectively to the nation’s
economic growth," read the statement.
AmCham Nepal remains committed to policy advocacy, working closely with the
Government of Nepal to support the seamless operation of US companies in the
country, said Shrestha.
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