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Finance Minister and Coordinator of Investment Summit Steering Committee, Dr Prakash Sharan Mahat, has said inquiries of the international investors to invest in Nepal have been received.

The third meeting of the Third Investment Summit Steering Committee was held under the convenorship of Committee Coordinator and Finance Minister Dr Mahat today. The meeting discussed policies, laws and structural reforms-related reports, and on the projects prepared in view of the investment summit. 

Addressing the meeting, Finance Minister Dr Mahat issued instructions to prepare the projects with due seriousness, as the international investors have shown interest in investing in Nepal. "The Summit is an opportunity for us to attract investment. The government is always prepared for legal and policy level reforms to attract foreign and Nepali investors as well as the non-resident Nepalis, to invest in Nepal," he said, adding that the main goal of the Summit is to disseminate to the wider world the message that Nepal is the best destination for investment.  This message, he said, would be best served by making simplified provisions for investment facilitation, project implementation and operation, and for repatriation of profit.

According to the Finance Minister, the World Bank is ready to organize the conference of its IEG in Nepal in coming June. "The formal letter related to this is expected to arrive in some days. The biggest ever international conference will be held in Nepal. Representatives of more than 92 countries, including the World Bank President, will attend the conference," he said.

Finance Minister Dr Mahat said the Investment Summit will take place on April 28 and 29 before the WB conference. "If this Summit can be made result-oriented, then there is the possibility also of increased private investment in Nepal, not only of the multi-national companies' investment," he added.

Coordinator of the Policy, Law and Structural Reform Taskforce and Secretary at the Office of the Prime Minister and Council of Ministers, Ek Narayan Aryal presented a report on the legal and policy-level improvements.

The report has been prepared with the participation of the private sector as well and it incorporates the feedback received in the meeting of the Investment Summit Implementation Committee under the Chief Secretary's coordination.

 Based on this report, the 'Bill Designed to Amend Some Nepal Acts for Facilitation of Investment, 2024' will be prepared through the Ministry of Industry, Commerce and Supplies and will enter the parliamentary process for its endorsement following the approval of the Council of Ministers.

The taskforce has proposed amendments to various provisions of the Industrial Enterprise Act 2076, the Foreign Investment and Technology Transfer Act, 2075, the Special Economic Zone Act 2073, the Forests Act 2076, the National Parks and Wildlife Conservation Act 2029, Land Act 2021, the Land Acquisition Act 2034, the Environment Conservation Act 2076, the Electronic Transaction Act 2063, the Civil Aviation Authority of Nepal Act 2053, the Foreign Investment and Technology Transfer Regulations, 2077 and the Forests Regulations, 2079.

The amendment proposal has been proposed to these acts and regulations with the objective of removing the legal and policy-level obstacles seen in the industries, enterprises and investment as well as doing away with the difficulties and delays experienced in the implementation of construction projects.

Similarly, Coordinator of the Technical Committee and Secretary at the Ministry of Industry, Commerce and Supplies, Mukunda Niraula, made a presentation related to the preparation of projects to be showcased in the Third Investment Summit.

The technical committee has pursued further home work by preparing the preliminary list of projects after classifying the projects at different stages of study.

Ministers at the Ministry of Energy, Water Resources and Irrigation; the Ministry of Industry, Commerce and Supplies; the Ministry of Agriculture and Livestock Development; the Ministry of Culture, Tourism and Civil Aviation; the Ministry of Urban Development, and the Ministry of Forests and Environment were present in the meeting.

Also attending the meeting were the National Planning Commission (NPC) Vice Chair, the Chief Secretary, Advisor at the Finance Ministry, the Governor of Nepal Rastra Bank, the Secretaries of various ministries, and the presidents of the Federation of Nepalese Chambers of Commerce and Industry, the Confederation of Nepalese Industries and the Nepal Chamber of Commerce, among others.

A meeting of the National Assembly (NA) held on Wednesday unanimously endorsed the report of the Draft Committee on the Amendment of National Assembly Regulations-2075 BS.

Committee's President Suresh Kumar Ale Magar presented the proposal seeking consideration of the Amendment Report on National Assembly Regulations-2075 BS in the beginning of the meeting.

In the theoretical discussion held on the proposal, President Ale Magar responded to all the queries raised by the lawmakers.

NA Chairperson Ganesh Prasad Timilsina apprised the Committee members that those seeking an amendment on the report could register their amendment within 72 hours.

Similarly, the meeting unanimously endorsed Fiscal Procedures and Financial Accountability (First Amendment) Ordinance-2080 BS.

Likewise, Legislative Management Committee President Jayanti Devi Rai presented the report of the Committee on Sahid Dasaratha Chand Health Science University-Bill-2080 BS.

Meanwhile, the NA meeting passed the condolence motion on the demise of former minister and constituent assembly member Keshav Kumar Budhathoki.

The condolence motion was presented by the NA Chairperson which the meeting endorsed unanimously. Parliamentarians observed a minute of silence and prayed for the eternal peace of departed Budhathoki.

Budhathoki passed away on February 5 while undergoing treatment. He was 80.

NA is convening again at 1: 01 pm on February 11.

A meeting of the Parliament held on Wednesday unanimously approved the bill on Anti-Money Laundering.

Earlier in the meeting, Minister for Law, Justice and Parliamentary Affairs, Dhanraj Gurung, had presented the proposal seeking the endorsement of the bill to amend Acts and laws relating to the prevention of money laundering and promotion of business environment.

The endorsement has opened the way for amendment in a host of laws such as Export-Import (Control) Act-2013 BS, Ship Registration Act-2027 BS, Revenue Act-2034 BS, Tourism Act-2035 BS, Building Act-2055 BS, Insolvency Act-2063 BS, Securities Act-2063 BS, Nepal Rastra Bank Act-2058 BS, Human Trafficking and Transportation (Control) Act-2064 BS.

Criminal Assets and Instruments (Seizure, Control and Confiscation) Act-2070 BS, Money Laundering Prevention Act-2064 BS, Organized Crime Prevention Act-2070 BS, Insurance Act-2079 BS, Cooperatives Act-2074 BS, Foreign Investment and Technology Handover Act-2075 BS, Electricity Regulation Commission Act-2074 BS, Mutual Legal Assistance Act-2070 BS will also undergo amendment with today's endorsement.

The National Civil (Code) Act-2074 BS and the National Criminal Procedure (Code) Act-2074 BS have been amended through the bill.

The Parliament meeting will be held again at 11 am on February 18 .

Speaker Devraj Ghimire said that lawmakers could hold a live question and answer session with Prime Minister Pushpa Kamal Dahal on that day.

Minister for Foreign Affairs, Narayan Prakash Saud, will be leaving for Perth, Australia this evening to attend the 7th Indian Ocean Conference being jointly organized by the Government of Australia and India Foundation on February 9-10.

The Minister is scheduled to address the Conference being held on the theme of ‘Towards a Stable and Sustainable Indian Ocean,’ on 10 February, according to the Ministry of Foreign Affairs.

While in Perth, Minister Saud will hold a bilateral meeting with Senator Penny Wong, Minister for Foreign Affairs of Australia. In the margins of the Conference, the minister is also scheduled to hold meetings with participating heads of delegation from friendly countries.

He will visit Wellington, New Zealand for a bilateral meeting with Winston Peters, Minister of Foreign Affairs of New Zealand on February 14. The meeting will be preceded by the Second Foreign Ministry Consultation Meeting between the senior officials of the Ministries.

The Minister will be accompanied by his spouse Jyotshna Adhikari Saud and officials of the Ministry of Foreign Affairs. Ambassador of Nepal to Australia, Kailash Raj Pokharel, will also join the Nepali delegation.

He will return to Kathmandu on February 15.