Kathmandu, May 15
The government has formally begun one-stop service for investors in the country from today.
Minister for Industry, Commerce and Supplies Matrika Prasad Yadav inaugurated the onepoint service centre, located inside the Department of Industry, for investors and businesses today.
Established with the objective to provide effective and quick services like approvals, registration and other administrative services to investors, Yadav said that the one-window service will be instrumental in addressing procedural hurdles for investors. “The service centre will ensure convenience for both domestic and foreign investors,” he said.
The one-window service centre has eight different units, namely registration, foreign currency exchange, visa facilitation, environment, infrastructure, land administration, customs and revenues, and administration and law. This will ensure that potential investors will not have to move to different government offices for various approvals to establish an industry.
The one-window service centre will provide all legal procedures at one place for investors.
“Investors can get services regarding project permit, project agreement, investment permission, labour permit and environment-related issues from this centre. We have brought 14 different government agencies involved while approving investments under a single roof,” said Binod Prasad Singh, director general of DoI, adding that the operation of one-window service centre for investors has ended the compulsion for investors to visit different government offices to register their businesses in the country.
As per him, the centre has representative offices from immigration, customs, labour, Nepal Rastra Bank, environment ministry, industry ministry and others.
The centre currently has 19 staffers and will be operated under the director general of DoI.
Meanwhile, country’s private sector has welcomed the opening of one-window service centre for investors and has said that its effective operation will facilitate businesses and investments.
“At a time when procedural hurdles has been identified as one of the major bottlenecks for investment and business growth, effective operation of the one-window service centre will encourage investors to invest in Nepal,” reads a press statement issued by the Confederation of Nepalese Industries.
A version of this article appears in print on May 16, 2019 of The Himalayan Times.