The government is formulating a new visa policy by amending the existing one introduced in 2006 to simplify the entry and exit of foreigners, attract foreign investment and promote tourism.

A draft of the proposed Visa Policy 2026 was placed at a meeting of the Cabinet on Thursday.

To further refine the draft, a cabinet committee, headed by the finance minister, was formed at the meeting.

The government is devising the new visa policy to develop a modern and service-oriented immigration system.

The objectives of the proposed policy include making the entry and exit of foreigners easy and disciplined, attracting foreign investment, business and skilled human resources, and promoting tourism and hospitality sector.

Ensuring technology and knowledge transfer, maintaining national security and international diplomatic balance and managing international travel based on the principle of reciprocity are also among the objectives.

The Ministry of Home Affairs will provide secretarial support to the cabinet committee during the review and finalisation of the draft policy.