Kathmandu, April 18,2018 : A group of traders including Rishi Dhakal, an honoury counsel of Nepal to the US, have expressed their keen interest to set up a Production facility in Bhairahawa Special Economic Zone (SEZ).
They aim to produce travel goods like luggage, handbags, travel goods, shawls, carpets and headgears, among others. They plan to import the production into the US as these goods will be allowed duty-free access into the US market as the policy adopted by the US post the Earthquake in 2015.
The companies setting up their factories in the SEZ will receive taxation waiver from the government of Nepal and have to export at least 75% of their produce as per the guideline and this could be easily achieved importing them to the US and this has been the driving force behind their keen interest to establish a factory in the SEZ as informed Chandrika Prasad Bhatta, executive director of SEZ authority Nepal.
Set up as per the government’s master plan to set up SEZ has called for request for proposal form other firms interested to set up industries in Bhairahawa SEZ. Out of total 69 plots available, 19 industries have booked 55 and the remaining plots are available to industries willing to establish their factories in the SEZ premises.
One of the largest economies of world, the US imports goods worth $8 million worth of 66 items granted duty free facility and this stat could easily go higher if they can increase the output and maintain the quality of the produce, they believe.