The government is making final preparations for signing the Bilateral Investment Promotion and Protection Agreement (BIPPA) with Bangladesh, Malaysia and Canada with a view to bringing in foreign investment in the country.
According to the Inland Revenue Department, the government has, through the bodies concerned, already presented necessary documents to the respective governments.
We have already sent the agreement draft to the governments of these countries and will expedite further required processes once we get a response from them, Department Director General Tankamani Sharma said.
During the meeting with representatives of these countries, the department has received positive response for signing the agreement, he added.
So far, Nepal has signed the BIPPA with India, China, Qatar, Austria, the Republic of Korea, Mauritius, Norway, Pakistan, Sri Lanka and Thailand.
Signing the BIPPA between two countries is an international trend which is meant for increasing, promoting and protecting foreign investment.