Kathmandu: The government has announced to development Nepal as the best destination of foreign direct investment (FDI). Double taxation avoidance agreement would be made with the countries which are ready to make investments.
Such announcement was made during the budget speech the Finance Minister made in the joint session of the federal parliaments on Thursday. For this to happen, the procedure to bring in foreign investment and return of profit would be made easier. A policy of anchor investment would be adopted to project foreign investment as a national priority.
Presenting the budget for the fiscal year, 2025/026, Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel announced, “The companies that construct industrial estate will be provided facilities equal to hydropower producing companies, and special economic zones. Such industries will be provided 50 percent discount in monthly fare.”
The Minister has allocated Rs 1.55 billion for the construction of industrial infrastructures.
“The industries being operated in the Kathmandu Valley will be shifted outside the valley in a bid to encourage pollution reduction in the Kathmandu Valley. Such industries will be provided land free of cost outside,” he shared.
Legal reform will be continued for public-private partnership, an automated single point service centre set up under the Investment Board, and viability gap funding managed to attract investment in priority areas, according to budget speech.
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