AmCham Nepal Calls for Reforms to Enhance US Investment and Economic Growth
The American Chamber of Commerce in Nepal (AmCham Nepal) urged Finance Minister Rameshwore Khanal to implement reforms to boost US investment, focusing on easing business operations and enhancing digital infrastructure. Key concerns included unclear regulations and internet reliability, with AmCham proposing a streamlined tax exemption system for renewable energy projects. Minister Khanal pledged to work with relevant departments to facilitate these reforms and attract American investment.
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The American Chamber of Commerce in Nepal (AmCham Nepal) met with Finance Minister Rameshwore Khanal to discuss reforms aimed at increasing US investment. Key focus areas included easing business operations, improving digital infrastructure, and addressing policy hurdles.
AmCham identified eight priority areas, advocating for Nepal to become a hub for high-tech data centers, leveraging its cool climate and hydropower resources. Issues such as unclear regulations and unreliable internet connectivity were highlighted as deterrents for investors.
AmCham also raised concerns regarding delays in VAT refunds and proposed allowing commercial banks to streamline verification processes. Additionally, the chamber recommended a 'one-door' system for managing tax exemptions for renewable energy projects. Minister Khanal committed to collaborating with relevant departments to implement these reforms and prepare projects for American investment.
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