KATHMANDU: In another development, the meeting of the House of Representatives (HoR) today passed the proposal seeking consideration on 'Foreign  Investment and Technology Handover Bill-2075', with majority.

A proposal seeking passage of the bill was presented at the second meeting of the HoR today by Minister for Industry, Commerce and Supplies Matrika Prasad Yadav.

The proposal was passed by a majority of the lower house. The bill has been introduced with the objective of attracting foreign (direct) investment to strengthen the economy and increase domestic production.

Endorsement of the bill also provides the government with the ground to make necessary legal provisions in considering the investment summit taking place in the capital from March 29 to 30.

The House of Representatives will meet next at 13:00 hrs on March 24.