Nepal government to look at reducing foreign ownership in casinos
The Nepal government is considering slashing foreign ownership in the casino sector from 90 to 49 per cent, a move which some say will hamper Nepal’s foreign direct investment sector at large.
The bill will also change casino operating distances, allowing them to be built within three kilometers of Nepal’s international borders, rather than the current five kilometers. nepal is known as the Mountain Kingdom, and is a landlocked central Himalayan country in South Asia.
President of Siddhartha Hotel Association and Owner of Nansc Hotel in Bhairahawa, Chandra Prakash Shrestha said: “The gaming industry is a major taxpayer and it should not be saddled with arbitrary location-based areas where developments cater to Indian and Bangladeshi tourists and there should not be restrictions in doing so.”
