Kathmandu: The main opposition party, Nepali Congress (NC), has decided to submit a collective amendment proposal on the Investment Facilitation Bill. This decision was made during a meeting of the NC parliamentary party held in Singha Durbar on Wednesday, following consultations with entrepreneurs, industrialists, and investors regarding the bill.

House of Representatives (HoR) member Nagina Yadav, who attended the meeting, stated that the decision to propose amendments was made to seek legal reforms in the bill, which is deemed not investment-friendly. The amendment proposal will be registered on behalf of the NC parliamentary party, incorporating recommendations from industrialists, entrepreneurs, and investors.

Lawmaker Yadav highlighted the need for eight-point amendments to the bill to better facilitate foreign investment. The proposed amendments will address areas including land ceiling, land acquisition, forest management, public-private partnerships, and Special Economic Zones.

As a party committed to liberal democracy, the NC has explored alternatives and flexible measures to attract foreign investment. Entrepreneurs had previously voiced their concerns about their inputs and recommendations not being addressed in earlier discussions on the bill.

NC's assistant general secretary noted that the parliamentary party regularly consults with experts and stakeholders on various bills. The discussions on the investment bill included chiefs and representatives from the umbrella organizations of industrialists and entrepreneurs, who urged the NC to strongly advocate for amendments to improve the bill.