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Showing posts from April, 2019

Prioritise intellectual property rights

Nepal joined the World Trade Organisation in 2004, but it began making legislative reforms only recently. Speaking at the Nepal Investment Summit 2019 held last month, Prime Minister Oli said that the country was a virgin land with huge potential for foreign investment. To attract and facilitate foreign investment, Nepal has introduced the Public Private Partnership and Investment Act, and the Foreign Investment and Transfer of Technology Act as part of policy reforms.

In 2017, Nepal approved the long overdue National Intellectual Property Policy. It aims to achieve economic prosperity by preserving, using and protecting various aspects of intellectual property. The policy lists several objectives and one key commitment—to achieve the said objectives through legislative reforms within two years. Unfortunately, the National Industrial Property Code couldn’t be finalised before the 2019 Investment Summit. Many had expected that the Investment Summit would hasten the process of finalisin…