Oct. 14 (Bloomberg) -- Lesotho eased regulations on setting up companies to help boost investment in the southern African nation, the ministry of trade and industry said.

The Companies Act will remove restrictions on which industries businesses can operate in, the ministry said in an e- mailed statement today. It sets out the procedures and fees to start a company, it said.

The existing law and rules were “no longer responsive to the needs of the modern business community,” the ministry said.

--Editors: Gordon Bell, Antony Sguazzin

To contact the reporter on this story: Motheolane Chakela in Maseru at mchakela@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net