Govt pledges SEZ law by December end

Minister for Industry Asta Laxmi Shakya said the government would be introducing a Special Economic Zone (SEZ) law by the end of December to bolster industrialization in the country. "SEZs are necessary to create a conducive industrial environment, but we are lacking laws governing them," said Minister Shakya, adding that the government had prepared the draft of a law regarding SEZs. Business people have been demanding implementation of the SEZ concept by enacting the necessary laws to facilitate industrial activities and promote exports. The government has declared 10 places including Panchkhal, Birgunj, Bhairahawa and Biratnagar as potential SEZs. Speaking at an interaction on the new industrial policy, trade policy, SEZ and industrial rehabilitation organized by the Confederation of Nepalese Industries (CNI) on Tuesday, Minister Shakya said the government had set a target of exporting 85 percent of the goods produced in SEZs where physical facilities and favourable labour laws will be enforced to encourage smooth industrial activities. Expressing concern over the ailing state of industries, she attributed their plight to lack of infrastructure, unskilled management and lack of loyalty of management staff. She revealed that the government would be coming up with the much awaited industrial policy by December this year. CNI president Binod Kumar Chaudhary asked the government to stimulate the Ministry of Industry to widen its role for the sake of industrial development. Anuj Agrawal, executive member of the CNI, presented the proposed industrial policy on behalf of the apex body of Nepal's industrialists. The draft policy envisages creating and developing the competitive strengths of domestic enterprises, promoting foreign direct investment, introducing modern technology and efficient management, developing necessary human resources, and generating employment at all levels especially in the rural areas, among others.
Source:
eKantipur