Private Sector Welcomes Economic Law Reforms

The private sector has welcomed the government's efforts to reform economic laws. The Nepal Chamber of Commerce and the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) issued statements supporting the amendments, calling them significant for improving the economic and business environment.

Kamlesh Kumar Agrawal, President of the Nepal Chamber of Commerce, emphasized the importance of the ordinance in revitalizing the economy and urged the government to finalize it in the winter parliamentary session. The Chamber also appreciated the provision allowing foreign investors to repatriate funds within seven days.

Similarly, FNCCI noted that amendments to 24 laws, including 11 related to investment growth and 12 on good governance and public service delivery, would boost investment in the country. FNCCI also urged the government to ensure effective implementation of these reforms. The private sector remains optimistic that these measures will enhance Nepal's economic and business climate.