The Foreign Investment and Technology Transfer Act, 2019 (2075) in Nepal is a crucial legal framework designed to boost economic growth, attract foreign capital, and support sustainable development. Its main goals are to improve competitiveness, generate employment, and promote industrialization. The Act aims to propel Nepal’s economy by making it easier for foreign investment and technology transfer.

Here are the key aspects of the Act:

  1. Purpose and Objectives:
    • The Act strives to make Nepal’s economy robust, competitive, and employment-centric.
    • It envisions sustainable growth through industrialization.
    • By creating an investment-friendly environment, it encourages foreign capital inflow and technology sharing.
    • The targeted sectors include import substitution, export promotion, productivity enhancement, and infrastructure development.
  2. Definitions:
    • Industry: Refers to any legally established industry.
    • One Stop Service Center: A facility streamlining investment processes.
    • Non-resident Nepali: An individual with a non-resident Nepali identity card.
    • Technology transfer: Involves agreements related to patents, trademarks, and know-how sharing.
    • Board: The Industry and Investment Promotion Board.
    • Ministry: The Ministry of Industries, Commerce, and Supplies.
    • Foreign investment: Includes share investments, dividend reinvestment, and lease finance.
  3. Investment through Technology Transfer:
    • Foreign investors can invest by transferring technology to Nepali industries.
    • The terms of technology transfer are specified in agreements between the industry and foreign investors.

The Foreign Investment and Technology Transfer Act, 2019 (2075) Nepal: Download