The Ministry of Industries, Commerce and Supplies has decided to allow the Department of Industries to approve foreign investment worth over a billion rupees in fixed assets. The decision was taken at a recent meeting of the Industrial Promotion Board. Prior to this, the department was authorised to approve investments only up to Rs 900 million. In a separate decision last week, the government also announced it would begin issuing 90-day multiple entry business visas valid for five years. The visa fee for businesses and people coming to research possible investments will be lower than that for ordinary visas. Business associations welcomed the decisions, but say they are waiting to see if and how they will be implemented.