Kathmandu: Minister for Infrastructure Development Sunil Lamsal has said that extensive reforms in the existing Acts, Regulations and Working Procedures are necessary to create investment-friendly environment.
Addressing the seminar on ‘Law Reform Consultation for Investment and Development’ organized as part of the preparation of Nepal
Infrastructure Conference-2026 here today, Minister Lamsal said that the process of law reform has been forwarded on the basis of suggestions received from private sector, experts and entrepreneurs.
He said, “There is a need to make extensive reforms in the existing acts, regulations and procedures to create an investment-friendly environment. We have started the process of law reform by incorporating suggestions received from the private sector, experts and businessmen. We believe that the expected results of the investment summit can be achieved only after the reform of the law. According to him, at the initiative of the Prime Minister, consultations were held with the private sector, experts and businessmen about four months ago to create an investment-friendly environment. He said that more than 450 suggestions including Acts, Regulations and Procedures were received in the Prime Minister’s Office.
He said, “Four months ago, the Prime Minister had consulted experts and businessmen from various sectors in various private sectors. There was a discussion on what should be done to create an investment-friendly environment. He put forward 450-plus demands or gave suggestions to the Prime Minister’s Office on Acts, Procedures, Regulations and other things. Minister Lamsal said that various ministries have been directed to forward works for reforms related to laws based on the suggestions received and the Confederation of Nepalese Industries (CNI) has also proposed to organize an investment summit.
He further said that preparations have been made to move ahead the process of investment conference and law reform in a phased manner. He said that a task force on law reform has been formed and works have been forwarded based on the conclusion that the expected results can be obtained from the investment summit only by amending the laws. After the preparation of the preliminary draft, discussions have been held with the private sector and stakeholders to further refine it, Minister Lamsal said. He said that while formulating new laws, a policy should be adopted to provide a conducive environment for the private sector and benefit the state in the long run. He argued that the policy would be effective to increase production and employment by reducing the cost of industries and businesses rather than collecting revenue immediately.
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