Bhairahawa Special Economic Zone (SEZ) would create some 9,100 employment in 10 years.
"In the worst case scenario, Bhairahawa SEZ will create 9,100 jobs," according to a report by the members of the World Bank Group.
Meanwhile, in progressive case scenario, the SEZ could generate around 13,300 employment and in the best case scenario, it could employ 20,500, said the report 'Creating Competitive SEZ Regime' prepared jointly by the International Finance Corportaion (IFC), Foreign Investment Advisory Service (FIAS) and IFC-SouthAsia Enterprise Development Facility (IFC-SEDF).
Bhairahawa SEZ -- the first SEZ in the country that is going to come into operations soon -- is also expected to attract Rs 427.86 million investment in a decade in conservative scenario. "Meanwhile, in progressive case, it could attract Rs 625.34 million investment and in best case scenario, it could attract 883.94 million investment over a decade period," the report said.
SEZ not only creates the employment and attracts investment, it will also earn revenue for the government. "In a decade, it could earn Rs 4.5 million revenue to the operator in the worst case scenarios," the report said, adding that in the middle case scenario, it could generate Rs 6.65 million and in the best case scenario, it would earn Rs 10.25 million for the operator in 10 years time period.
Though the Bill to operate SEZ is pending in the parliament, entrepreneurs are optimistic of its benefits, once it comes to operations.
"Development of SEZ is appreciable but the bill is still pending," said Uday Raj Pandey, first vice president of Garment Association Nepal (GAN).
"Developing SEZ is not enough, facilites like bank finance, lease facility, special labour Act for effective operation of industries in SEZ are key to its success," he said, adding that Bhairahawa SEZ could be little more costlier that Birgunj SEZ that is still under planning phase.
"Cost wise SEZ at Birgunj will be more beneficial for exporters as there is a dry port," Pandey said.
GAN has also been insisting for a Garment Processing Zone at Birgunj Sugar Factory area.
The SEZ project office has given IFC a list of businesses that have expressed their interest in locating in BHairahawa SEZ. Motorbikes, Toys, Textiles, Silk, Knitted Fabric, Carpets, Craft, Tea, Plastics, Plastic Packaging material, Polyster thread, polyster bags and materials, Ghee, plastics, floriculture related firms have expressed their interest to shift their bases in the Bhairahawa SEZ that was started construction in 2008.
If SEZ Bill is passed with a mandatory export requirement, some of the companies interested in SEZ would not be able to locate there because thier business models are set to produce predominantly for the Nepali market.
Construction of SEZ in Bhairahawa and Birgunj represent positive steps towards creating additional serviced industrial land for foreign and local investors in Nepal.
7 comments:
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