Kathmandu, Jan. 16
The Nepal Foreign Trade Association (NFTA) has appreciated the
government's move to amend the Black-Marketing Act and other regulations which
it had long been demanding.
It said in a statement on Thursday that the amendments recently made
thorough ordinances are positive steps towards fostering a more
investment-friendly environment.
These timely and scientific legal reforms would promote investment growth
and contribute to the creation of a more business-friendly atmosphere in the
country, according to the NFTA.
"Modern, scientific laws are essential for building a
business-friendly environment and increasing investments. The government’s
initiative to update these laws demonstrates a commitment to creating a more
encouraging environment for the future," read the statement.
However, the Association said that implementing the newly amended
provisions with integrity and purpose is more important.
According to it, the amendments to laws governing industry and commerce
are expected to address market contraction, bolster the morale of businesses,
and send a positive message to investors.
"We urge the government to promptly revise existing regulations and
procedures, and to finalise pending rules and guidelines to ensure the
implementation of business-friendly laws in the line of the recent amendments,"
read the statement issued by NFTA General Secretary Jayant Kumar Agrawal.
Published in The Rising Nepal daily on 17 January 2025.
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