Butwal, 18 Nov 2014: Deputy Prime Minister Bamdev Gautam on Tuesday said the Special Economic Zones (SEZ) would be transformed across the country into a network with new regulations.
After inauguration of the country’s first Special Economic Zone (SEZ) in Bhairahawa, DPM Gautam said the government was committed to creating an atmosphere conducive to the private sector to establish industries and to operate SEZ.
He said a policy would be created to encourage SEZ while carrying out important works for strengthening goods and services, and giving proper recognition to workers’ labour.
The Minister added the government had plans to establish SEZ in all 14 regions of the country with necessary creation of regulations so as to make the country self-independent. He called for investment friendly and pliable legal framework for implementing the government’s plan.
On a different note, DPM Gautam said the political parties were working with vigour to promulgate the constitution by 22 January. He said the country would move forward on path of economic prosperity after the constitution is promulgated.
“It is necessary to develop such sectors for economic prosperity in the country,” he said.
On the occasion, Industry Minister Mahesh Basnet said the government was planning to bring out a new regulation for running SEZ.
He stressed the need for giving due recognition to the industrial sector and underlined the essence of creating SEZ to facilitate investment of the private sector.
Minister Basnet said he would take special initiative with the Indian government to start railway service at the border to facilitate the import of electricity and goods in SEZ.
Rupendehi constituency-5 Constituent Assembly member and former State Minister for FinanceÂ Bharatkumar Shah called for enacting private sector friendly laws to attract the private sector in SEZ.
Special Economic Zone Development Committee member Mahesh Agrawal said the operation of SEJ would sent a positive message to the South Asian Association for Regional Cooperation (SAARC) for drawing foreign investment in Nepal.
He said the introduction of SEZ would contribute to three per cent rise in industrial development in Nepal, provide employment to more than 15,000, increase import by 10 per cent and increase investment in industrial sector amounting to more than Rs 10 billion.
SEZ has come into operation almost 12 years after being established with necessary creation of infrastructure, criteria and working procedure.
The initial work for creation of SEZ started with an estimated cost of Rs. 520 million but the actual cost has already reached Rs. 540 million.
For the establishment of SEZ, around 52 bighas of land including that of administrative and service sector was fixed at a cost of Rs. 126.5 million. Likewise, 65 plot of land has been divided for establishment of industry.