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November 9: Entrepreneurs have stated that dozens of existing laws in Nepal are obstructing the industrial development and investment promotion in the country. The businessmen have also suggested to the government to abolish or amend inappropriate laws. Stating that the economic agendas are not being prioritized due to prolonged political changes, they have pointed out that it is important to abolish or amend dozens of outdated laws that have been hindering industrial development.
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“Good governance, promotion of effective governance and stability of policy are necessary to move the private sector ahead in productive way and make them actively engaged in economy,” said Hari Bhakta Sharma, president of CNI. Stating that there are more than 56 laws for regulating the industries, Sharma opined that the number of laws can be brought down to five or six by integrating the laws.
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'content' => '<p>November 9: Entrepreneurs have stated that dozens of existing laws in Nepal are obstructing the industrial development and investment promotion in the country. The businessmen have also suggested to the government to abolish or amend inappropriate laws. Stating that the economic agendas are not being prioritized due to prolonged political changes, they have pointed out that it is important to abolish or amend dozens of outdated laws that have been hindering industrial development.</p>
<p>The participants expressed such views amid a programme jointly organized by the Confederation of Nepalese Industries (CNI) and Nepal Media Society (NMS) on November 8. During the discussion programme entitled ‘Reforms of existing laws to promote industries and investment’, the participants expressed their views that industrial development and investment promotion are possible only through industry-friendly laws.</p>
<p>“Good governance, promotion of effective governance and stability of policy are necessary to move the private sector ahead in productive way and make them actively engaged in economy,” said Hari Bhakta Sharma, president of CNI. Stating that there are more than 56 laws for regulating the industries, Sharma opined that the number of laws can be brought down to five or six by integrating the laws.</p>
<p>Similarly, Shankar Sharma, former vice-chairman of National Planning Commission (NPC), said that it is essential to follow business norms along with the need for amendment of existing laws.</p>
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