AmCham Nepal submits strategic recommendations to strengthen US-Nepal economic ties

KATHMANDU: The American Chamber of Commerce in Nepal (AmCham Nepal) has presented a comprehensive memorandum to the Government of Nepal, outlining strategic recommendations to enhance the country’s investment climate and foster stronger economic ties between the United States and Nepal.

The memorandum highlights key reforms across diverse sectors, emphasizing the need to create a favorable environment for business growth and bilateral cooperation.

In a pivotal meeting with the Honorable Bishnu Prasad Paudel, Deputy Prime Minister and Finance Minister, AmCham Nepal Chairperson Nirmal Kajee Shrestha and board member Samrath Mogha discussed the critical role of US investments in fostering inclusive economic growth in Nepal.

The delegation emphasized how collaboration with AmCham Nepal can drive innovation, create jobs, and build a dynamic economy through US investments.

AmCham Nepal underscored the importance of introducing favorable policies and regulatory frameworks to attract and sustain foreign investments. “Such measures are crucial for ensuring a business-friendly environment where US investors feel confident in contributing to Nepal’s sustainable development,” said Samrath Mogha.

Key issues addressed in the memorandum include facilitating the smooth repatriation of post-tax profits, unlocking the potential of the ICT industry to generate significant revenue for Nepal, ensuring tax stability for businesses, addressing ride-sharing regulations, revising Service VAT Tax policies, enhancing the Double Tax Avoidance Agreement (DTAA), and strengthening measures to combat anti-money laundering.

The recommendations aim to address key challenges faced by US companies operating in Nepal, enabling them to contribute effectively to the nation’s economic growth.

AmCham Nepal remains committed to policy advocacy, working closely with the Government of Nepal to support the seamless operation of US companies in the country. “Together, we aspire to pave the way for a stronger economic relationship and a shared vision of prosperity for both nations,” said Nirmal Kajee Shrestha.

This initiative further solidifies AmCham Nepal’s role as a bridge between the private sector and policymakers, fostering a collaborative approach to drive economic transformation and bilateral growth.