Foreign Investment Bill Endorsed
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Monday, Mar 18, 2019
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The House of Representatives has passed the Foreign Investment and Technology Transfer (FITTA) Bill, 2075. A proposal seeking passage of the bill was presented at the second meeting of the House on Monday by Minister for Industry, Commerce and Supplies Matrika Prasad Yadav.
The proposal was passed by a majority of the lower house. The bill has been introduced with the objective of attracting foreign (direct) investment to strengthen the economy and increase domestic production.
The endorsement of the bill also provides the government the ground to make necessary legal provisions in considering of the investment summit taking place in the capital on March 29 to 30. The House of Representatives will meet next at 13:00 hrs on March 24.