Kathmandu: The Confederation of Nepalese Industries (CNI) has presented a comprehensive report with recommendations for legal reforms aimed at advancing the economic development of the country.

CNI President Rajesh Kumar Agrawal submitted the report to Prime Minister Pushpa Kamal Dahal 'Prachanda' and shared it with Speaker Devraj Ghimire and Chief Secretary Dr. Baikuntha Aryal.

The report suggests amendments to 28 Acts and Regulations, the repeal of five Acts, and the introduction of three new Acts. CNI emphasizes that these legal changes are crucial for fortifying the nation's economy.

President Agrawal mentioned that the research report was meticulously prepared through extensive consultations with legal experts, industrialists, stakeholders, thematic experts, and others. Additionally, a comparative study was conducted, drawing insights from various countries.

The recommended legal reforms cover a spectrum of areas, including the Industrial Business Act, 2076; Industrial Business Regulations, 2078; Income Tax Act, 2058; Company Act, 2063; Act relating to Act, 2021; Forest Act, 2076; Foreign Investment and Technology Transfer Act, 2075, among others. The CNI hopes that these proposed legal amendments will contribute to strengthening the foundations of Nepal's economy.