CNI welcomes amendments to laws meant to increase investment

Kathmandu, Jan. 15

The Confederation of Nepalese Industries (CNI) has welcomed the recent amendments to the laws which were aimed at improving the economic and business environment, enhancing investment, and ensuring good governance in public service delivery.

“Through ordinances, the government has amended a total of 24 laws - 11 related to the improvement of the economic and business environment and investment promotion, and 12 related to the promotion of good governance and the delivery of public services. The CNI believes that these amendments will help boost investment in the country,” it said in a statement issued on Tuesday.

The business body said that it had submitted detailed recommendations to the government regarding necessary legal reforms for the overall development of the economy. These amendments are necessary to build a prosperous economy so the CNI thanked the government for taking this initiative and urged for effective implementation of those provisions.

Due to the overall contraction of market demand and declining business morale, investment has not been increasing now. However, the CNI expressed its belief that the amendments to the laws will send a positive message to the investors.

However, despite some amendments to laws before the investment conference held in April last year, the expected outcomes have not been achieved due to the lack of timely formulation of necessary regulations and procedures.

The CNI drew the attention of the concerned stakeholders to the need for the timely introduction of necessary regulations and procedures for the effective implementation of these recently amended laws.

It also requested the government to urgently amend laws related to finance, land, and public procurement. 

 Published in The Rising Nepal daily on 16 January 2025.