NRB regulation on foreign investment and debt management will facilitate investments in Nepal: CBFIN

KATHMANDU: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has stated that the regulations on foreign investment, issued by the Nepal Rastra Bank (NRB), will create an friendly environment for foreign investors to invest in Nepal.

In a press release issued on Wednesday, the confederation said that the provision made in the ‘Foreign Investment and Foreign Debt Management Regulations, 2078’ regarding foreign investment is positive and will promote investment in Nepal.

Releasing the regulation on Tuesday, the NRB had stated that its prior approval was not needed to remit or to send money from the prospective foreign investors for the cost incurred for the feasibility study and pre-operation costs of the industries and firms to be established in Nepal.

Similarly, the central bank had also scrapped the provision that required foreign investors to take permission from the central bank to bring in the foreign capital inside Nepal.

Stating that their suggestions have been addressed, CBFIN said that these new provisions will facilitate foreign investment in Nepal and pave the way for new foreign investments in Nepal.