Speaking at an interaction with representatives of Nepal’s largest foreign-invested taxpayers at the Ministry of Finance on Monday, Minister Wagle emphasized that the government views the private sector as a strategic partner rather than a target for tax collection. "When industries make profits, those profits are reinvested, which increases production and creates jobs," Minister Wagle said. "The relationship between government and the private sector is not a zero-sum game. The government's primary responsibility is to protect legitimate investments, safe assets, and profits earned in Nepal."
He asked corporate leaders for specific recommendations to overhaul tax administration, land ceilings, energy supply, labor regulation, infrastructure, and legal frameworks. He assured attendees that a dedicated response desk at the Finance Ministry will monitor inter-ministerial coordination to implement these reforms within a fixed timeframe.
In response, multinational executives pledged to inject approximately Rs. 200 billion in new near-future investments across productive sectors—including hydropower, hotels, food and beverages, and paint manufacturing—provided the government ensures long-term policy stability.
Key Corporate Requests Raised at the Summit:
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Capital & Profits: Streamlined mechanisms to bring capital from foreign parent companies and simplified processes for repatriating investment returns.
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Taxation & Regulations: Elimination of double taxation, harmonized local government tax assessments, and predictable customs tariffs on raw materials.
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Operational Ease: Exemption from rigid land ownership ceilings, direct access to local raw materials, and flexible price regulation.
While acknowledging recent administrative improvements across the Department of Industry, Customs, and the Office of the Company Registrar under the new administration, business leaders stressed that practical, on-the-ground implementation of policy promises remains critical.
Representatives from multinational companies, including Surya Nepal Pvt. Ltd, Ncell Axiata Limited, Aarti Strips Pvt. Ltd, Gorkha Brewery Pvt. Ltd, Himalaya Airlines Pvt. Ltd, Hongshi Shivam Cement Pvt. Ltd, Doosan Enerbility Company Limited and Dabur Nepal Pvt. Ltd attended the meeting.
Similarly, representatives from Bottlers Nepal (Tarai) Limited, Unilever Nepal Limited, Asian Paints (Nepal) Pvt. Ltd., Power Construction Corporation of China Ltd., Gorkha Lahari Pvt. Ltd., Huaxin Cement Narayani Pvt. Ltd., New Hope Agro Business Nepal Pvt. Ltd., Nepal Wellhope Agri-Tech Pvt. Ltd., Varun Beverages Nepal Pvt. Ltd., Turkish Airlines Incorporation Pvt. Ltd., Bhotekoshi Power Company Pvt. Ltd. and Berger Jenson & Nicholson (Nepal) Pvt. Ltd. also attended the meeting.
