Kathmandu. Finance Minister Dr. KATHMANDU: Swarnim Wagle has urged multinational large taxpayer companies that have invested in Nepal to bring in more investment. During the meeting, Finance Minister Wagle urged 20 big multinational taxpayers companies to bring new investment in Nepal, expand existing investment and create new jobs. 

‘Make a bigger investment in Nepal, expand the existing industry. “Enter into new products and technologies,” said Finance Minister Wagle. The government will stand with you. ’

After the request of the Finance Minister, the representatives of the companies who put their views in the discussion took turns after the request of the Finance Minister said that the process of investing Rs 200 billion in Nepal was underway soon and pledged to increase the investment if there is more policy stability.

The company’s top officials informed the Finance Minister that they are in the process of expanding investment in various projects in the manufacturing sector including hydropower, paint industry, hoteland beverages.“We are investing Rs 2 00 billion in hydropower, food, hotels, industries like paints. “We are ready to expand investment if the government creates conducive environment,” said the heads of multinational companies. This will play a role in the growth of both employment and the economy. ’

Stating that the budget brought by the new government has significantly boosted the morale of foreign investors, they have urged the government to be liberal on some policy and practical aspects. 

“The administrative functions of the Department of Industry, the Office of the Registrar of Companies and the Tax and Customs Office have improved after the formation of the new government. “However, there is still some policy announcement and practical implementation that needs to be further facilitated,” they said.’

According to their , the government should facilitate the companies investing in Nepal to raise capital from the parent company. They said that the government should clearly define economic crimes and criminal offences and create investment-friendly environment by amending Section 57 of the Income Tax Act and amending the Labour Law. 

Stable customs rate on the import of raw materials of multinational companies, facilitation in the procurement of raw materials available in Nepal and price control, lifting the land ceiling, determination of tax at the local level, among others, are said to be facilitated by the government.They have also drawn the attention of the Finance Minister to make the basic service delivery technology-friendly to improve the industrial environment. 

to remove the hassle of double taxation and to ease the process of refund of returns, they also demanded the Finance Minister Dr. Swarnim Wagle. The meeting was attended by Surya Nepal, Ncell Axiata Limited, Aarati Stripes, Gorkha Brewery, Himalaya Airlines, Hongshi Shivam Cement, Dusan Energy, Dabur Nepal, Bottlers Nepal, Unilever Nepal, Asian Paints, Power Construction, Gorkha Lahari, Huaxin Cement Narayani, New Hope Agro Business, Nepal Wellhope Agritech, Barun Beverages, Turkish Airlines, Bhotekoshi Power Company and Berger Paints.