KATHMANDU: The session of the House of Representatives (HoR) on Thursday approved the proposal seeking consideration on the ‘Foreign Investment and Technology Transfer Bill, 2075’.

Matrika Prasad Yadav, Minister for Industry, Commerce and Supplies tabled the bill in today’s parliament.

Earlier, Nepal Communist Party (NCP) lawmaker lawmaker Dev Gurung suggested the government to attract foreign investment into the country that will contribute to national capital formation as well as promotes national interests.

Gurung also suggested the government not to allow foreign direct investment (FDI) in agriculture, cottage industries, security press as well as handicraft.

Similarly, NCP lawmaker Bhim Rawal suggested the government to become sensitive about the principles of the bill. “Protection of the national interest and security, indigenous production and skills have to be emphasized,” he said.

Likewise, Som Prasad Pandey said the government needs to work towards promoting the industries in the country. Pandey said domestic industries and products should not be sidelines at the cost of attracting foreign investment.

Meanwhile, Responding Industry Minister Yadav said the government would attract foreign investment and technology for the country’s prosperity. Minister Yadav also asserted that the government would consider the lawmakers’ concerns on foreign direct investment.