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Regulatory obstacles for investment climate discussed
A roundtable organized by The World Bank and the International Finance Corporation (IFC) in collaboration with the Ministry of Industry, on Thursday, discussed the ways of removing regulatory obstacles for private investment in Nepal.
The roundtable was a part of the Investment Climate Mini Diagnostic project which is aimed at rapidly assessing constraints that investors face in Nepal. Through the series of discussions, the project has been collecting suggestions from various government agencies, members of the private sector, development partners, business intermediaries and civil society.
The roundtable discussed on labor regulations, taxation, trade facilitation, licensing and inspections, and barriers to exit as well as the role of economic zones and investment promotion.
According to a joint press release issued by the World Bank Group, IFC and Foreign Investment Advisory Service (FIAS), the roundtable offered a platform to present the mission’s findings and discuss recommendations with high level representatives from the government and the private sector related to removing regulatory obstacles to private investment.
The roundtable was led by Fatima Shah, Investment Policy Officer of the FIAS, a joint service of the World Bank and the IFC, alongside IFC’s South Asia Enterprise Development Facility (SEDF). Mission members included Robert Whyte, Gokhan Akinci, Robert Krech, Paul Antony Barbour, Peter Carr, and Mustafizul H Shakir.
Secretaries from the Ministries of Finance, Labor, Tourism, Culture and civil aviation, Agriculture and cooperative, and Industry, Commerce and Supplies and representatives from private sectors were present in the roundtable.
The World Bank Group had commissioned this mission in a request made by MoICS to do a rapid assessment of the investment climate in Nepal.
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