Good governance roadmap: Industrial and investment security guaranteed, investment-friendly environment prioritized
कम्तीमा १० वर्षसम्म परिवर्तन नहुने गरी औद्योगिक र लगानी सुरक्षाको ग्यारेन्टी गरिनुपर्ने
लगानी न्यूज
. The ‘Good Governance Roadmap, 2082’ unveiled by the government on Sunday has proposed comprehensive policy, legal and structural reforms, prioritizing the promotion of industrial investment and creating investment-friendly environment.
The roadmap, which aims to lay the groundwork for private-sector-led economic growth, specifically indicates the removal of bottlenecks in the mobilization of domestic and external investment and the transformation of the role of the state from a regulator to a facilitator.TAG_OPEN_div_36
The government has pledged to create investment-friendly environment for industrial and investment promotion through policy, legal and procedural reforms.TAG_OPEN_div_34 Public-private partnership (PPP) policy and national investment policy have been prioritized for implementation while amendment to public-private partnership and investment act, industrial enterprise act and technology transfer act has been recommended to attract large scale investment from the private sector.
The
roadmap suggests implementing safeguard, antidumping and countervailing measures to protect domestic industry from cheap foreign imports. In addition, fiscal concessions, tax exemptions and production-based incentives should be implemented to increase domestic and foreign investment.
“Prosperity is not possible without the active participation of the private sector. Therefore, the investment laws, structures and working procedures will be revised as per the need of time to create an environment conducive for attracting the private sector for investment,” reads the roadmap.
{{TAG_OPEN_div_28} The proposal has also been made to make the Investment Board Nepal more empowered and to develop it as an autonomous body capable of implementing, directing, regulating and monitoring not only as a recommender. A policy would be adopted to decentralize investment promotion as per the federal set up by making arrangements to facilitate projects worth less than six billion rupees from the province and local levels.
The committee has also recommended developing an integrated investment management system by removing the duplication seen between the Investment Board of Nepal and the Department of Industry and to manage the source of long-term capital required for infrastructure development by establishing an alternative development finance fund.TAG_OPEN_div_26 It is stated that a policy should be adopted to facilitate the promotion of foreign investment and strengthen the ‘one-stop service system’ to provide visa, work permit, industry registration and other services to foreign investors from one place.
} The road map states that a list of potential investors should be prepared and promotional programs should be conducted to boost the morale of national and international investors, the problems of stalled projects should be resolved and implemented, and the laws related to intellectual property rights protection, patent, design and trademark should be reformed. Strategies should be adopted to promote investment and trade by strengthening Nepali diaspora, foreign partners and international economic cooperation.
} Towards digital governance, the industry and investment administration should be transformed into a completely online system, the process of licensing, renewal and liquidation should be limited to the time limit and the offices of customs, industry, inland revenue and the office of the Registrar of Companies should be integrated into a single platform through a one-door system. The roadmap recommends that the government should guarantee industrial and investment security for at least 10 years.
“A facilitation-oriented state structure will be created, moving away from the traditional role of the regulatory state. Administrative accountability will be ensured by implementing a system of evaluation of employees on the basis of customer satisfaction,” reads the roadmap.
प्रतिक्रिया दिनुहोस्