BETA
VERSION

Government finalises Special Economic Zone SEZ locations

Government finalises Special Economic Zone SEZ locations 

Published: January 04, 2017 8:43 am On: Business The Himalayan

  The government has finalised locations for the construction of Special Economic Zone (SEZ) in different provinces. Speaking at a press conference in the Capital today, Minister for Industry Nabindra Raj Joshi, said that the government recently completed the feasibility study of constructing SEZ in different locations in all the provinces, which will be tabled in the Cabinet soon for its approval. However, Bhairahawa SEZ in Bhairahawa of Province 5 has already been inaugurated in 2014 and is on the verge of starting its operations soon. MoI has completed feasibility study of establishing SEZ in Biratnagar of Province 1, Simara of Province 2, Panchkhal of Province 3, Gorkha of Province 4, Jumla of Province 6 and Dhangadhi of Province 7.

“We have finalised tentative construction modality of SEZ in aforementioned places. We will expedite construction process of SEZ in these places once the draft of modality and location is approved by the Cabinet,” Minister Joshi said. According to him, MoI is prioritising the construction of SEZ in Simara of Province 2 and Pachkhal of Province 3 in the first phase. In the long run, government plans to establish two dozen SEZs in different parts of the country. Minister Joshi also said that Bhairahawa SEZ would come into operation within a few months as government has already approved proposal of 21 companies to set up their industries within Bhairahawa SEZ. “We are working with NEA to manage regular supply of electricity in Bhairahawa SEZ. As soon as the NEA ensures smooth electricity supply, companies will begin to set up their industries there,” added Joshi.

Chandika Bhatta, executive director of SEZ Development Committee, said that the interest shown by investors to set up industries in SEZ has substantially increased following the approval of SEZ Act by the Parliament a few months ago. “We received overwhelming response at Bhairahawa SEZ only after SEZ Act was passed. The government should bring the SEZ Guideline as soon as possible to expedite construction process of industries within Bhairahawa SEZ,” Bhatta said.

http://thehimalayantimes.com/business/government-finalises-special-economic-zone-sez-locations/

 

Nepal Investment Summit 2017