Good Governance Blueprint: Creation of investment-friendly environment stressed

Kathmandu, March 30: The 'Good Governance Blueprint, 2082' issued by the government on Sunday has forwarded a proposal for extensive policy, legal and structural reforms that promotes industrial investment and creates investment-friendly environment.

The blueprint, released with a target of preparing a basis of economic growth under the leadership of private sector, has indicated to remove obstacles seen in mobilization of internal and foreign investment and transform the state's role from regulator to facilitator. 

Public-private partnership (PPP) model and implementation of national investment policy are prioritized and amendment to Public Private Partnership and Investment Act, Industrial Enterprises Act and Technology Transfer Act recommended in a bid to secure hefty investment from private sector.  

The reform document has suggested implementation of safeguarding, antidumping and countervailing measures to protect domestic industries from imports cheap goods. "Prosperity without active participation of private sector is not possible. So, an environment will be built to lure private sector for investment with timely revision of investment-related laws, structures and procedures," the roadmap mentioned. 

Empowerment of the Investment Board Nepal, development of autonomous institution and adoption of policy to decentralize investment promotions are other agendas forwarded to bolster federal structure. Importantly, arrangement would be made to facilitate projects of less than Rs 6 billion from province and local levels. 

Development of integrated investment management system has been recommended, thereby removing duplication seen between the Investment Board Nepal and the Department of Industry and establishing an alternative development finance fund to manage long-term capital resources for infrastructure development. 

Likewise, a policy has been suggested to strengthen 'One-Stop Service System' to provide various services including facilitating foreign investment promotion, visa for foreign investors, work permit and industry registration from a single place as well as to run promotional programmes by preparing a list of possible investors to boost morale of national and international investors, reform laws related to protection of intellectual property rights, patent, design and trademark. 

A strategy should be adopted to promote investment and trade by taking in confidence Nepali diaspora and bolstering foreign partnership and international economic collaboration, it is stated. (RSS)

The government should guarantee the industrial and investment security that should not be changed at least for 10 years, the blueprint said, adding, "Administrative responsibility will be ensured by implementing employee evaluating system based on customer satisfaction."