Tuesday, April 9, 2019

Department of Industry to set up one-stop service by mid-May

The Department of Industry (DoI) is planning to set up one-stop service for investors by mid-May, to ease the doing business in Nepal.
"The one-stop service will end the compulsion of going to about two dozen entities for registration of enterprises and investment approvals," according to the director general of the department Binod Prakash Singh.
"We are planning to bring the one-stop service into operation by mid-May," he said, adding that establishing the one-stop service for investors was one of the key commitments made by the government during Nepal Investment Summit held in Kathmandu two weeks ago. The Investment Board Nepal (IBN) was also established as a one-stop service centre for the large investors. But it has not been able to provide integrated services till date.
The department handles investment proposals – including foreign investment – for projects up to Rs 6 billion and hydropower projects having capacity below 200 MW, whereas the projects with investment above Rs 6 billion and hydropower projects above 200 MW capacity come under the jurisdiction of the IBN.
The approval of Public Private Partnership and Investment Act 2019 in March before of the Nepal Investment Summit 2019 set the ground for providing one-stop service.

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