Domestic firms to invest over Rs 5bn in Bhairahawa special economic zone
Kathmandu, February 16
Minister for Industry Nabindra Raj Joshi has informed that different domestic companies will invest more than Rs five billion to set up industries in the Bhairahawa Special Economic Zone (SEZ).
Speaking at the inaugural event of Bhairahawa SEZ Office today, Minister Joshi informed that 21 domestic companies have received government’s authorisation to set up industries and these industries will collectively inject more than Rs five billion in the Bhairahawa SEZ.
He also urged domestic companies to expedite construction of industries in Bhairahawa SEZ as the government will soon make available ample electricity for Bhairahawa SEZ.
“Companies will be able to set up their industries in the next seven to eight months in Bhairahawa SEZ and the government will also be able to supply power to these industries through a dedicated feeder line within that time,” Joshi informed.
According to Joshi, development of SEZ in the country will increase export of Nepali products as all industries established within SEZ will have to mandatorily export 75 per cent of their production.
“This will narrow down the existing trade deficit gap of Nepal and moreover establishment of SEZ will also create new employment opportunities,” he added.
Similarly, Chandika Prasad Bhatta, executive director of SEZ Development Committee, said that the committee has already signed agreements with 21 companies whose industries inside Bhairahawa SEZ will be responsible to export 75 per cent of their production.
He informed that these domestic companies will set up different types of factories in Bhairahawa SEZ including those related to readymade garments, fruit processing, PVC mat, cement, electrical equipment, fabrics, pipes, medicinal herbs, mineral water, electric vehicle assembly, among others.
“As the government has provided different tax-related facilities and infrastructure facilities to industries operating in Bhairahawa SEZ, we are optimistic that industries within this special area will perform well in the future,” Bhatta opined.
