Kathmandu. Finance Minister Dr. KATHMANDU: Swarnim Wagle has urged multinational large taxpayer companies that have invested in Nepal to bring in more investment.

In a meeting held at the Ministry on Monday, Finance Minister Wagle urged the 20 big multinational taxpayers companies to bring in new investment, expand existing investments and create new jobs.

“Invest more in Nepal and expand existing industries,” 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 in the discussion said that the process of investing Rs 200 billion was underway in Nepal soon.

The company’s top executives informed the Finance Minister that they are in the process of expanding investment in various projects in the manufacturing sector including hydropower, paint industry, hotels and beverages.

“We are investing Rs 200 billion in hydropower, food, hotel, paint and other industries,” said the multinational companies. This will play a role in the growth of both jobs and the economy. ”

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

“There has been improvement in the administrative functions of the Department of Industry, Office of the Company Registrar and the Tax and Customs offices after the formation of the new government,” they said. ”

According to them, the government should facilitate the companies investing in Nepal to bring capital from the parent company.

They said that the government should clearly define economic crimes and criminal offenses and create investment-friendly environment by amending Section 57 of the Income Tax Act and amending the labour laws.

It is stated that the government should facilitate on the issues of 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 and determination of tax at local level.

They also drew the attention of the Finance Minister to make the basic service delivery technology-friendly to improve the industrial environment. They also urged Finance Minister Dr. Yubaraj Singh to remove the hassle of double taxation and ease the process of refund. Swarnim Wagle requested.

The meeting was attended by multinational companies such as Surya Nepal, Ncell Axiata Limited, Arati 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. It was.

Finance Minister Dr. Swarnim Wagle has been intensifying discussions on budget implementation. Before this, he held discussions with three dozen industrialists involved in production-based industries. He also held discussions with CEOs of commercial banks and held discussions with 18 executive directors of Nepal Rastra Bank (NRB) on the country’s economic development.