Nepal to establish SEZs, industrial estates near Nepal-India border: Prime Minister of Nepal

New Delhi, Feb 23 (KNN) Nepal is keen to set up Special Economic Zones and Industrial Estates in major business hubs of the country in the plain land next to Nepal-India border, said Khadga Prasad Sharma Oli, Prime Minister of the Federal Democratic Republic of Nepal said.

“We have planned to set up Special Economic Zones and Industrial Estates in major business hubs of the country. Most of these will be established in the plain land next to Nepal-India border. Investing within SEZ has multiple benefits that include flexible and investment friendly labour laws,” he said at a business meeting organized by industry bodies FICCI, CII and ASSOCHAM.

Oli, who is on his maiden trip to India after becoming Prime Minister with his business delegation to promote Indo-Nepal relations, said that Nepal provides sector-specific incentives of various kinds and scope. He added, “Non-discrimination between Nepalese and Indian investors is our firm policy.”  

Oli said that export and import rules and procedures have been made open and liberal. Trade facilitation measures have been improved.

Nepal and India have exchanged four different letters to expand, simplify and streamline transit facilities during this visit. He added, “We must emphasize that commerce and connectivity between our two countries must not be affected by consideration other than economic development.”

Oli said that Nepal’s doors are open for investment in almost every sector. These include manufacturing, hydropower, tourism, services, IT, mining and agro based industries. He added, “We invite the private sector domestic and foreign, to invest resources, produce goods and services and create jobs. My government will extend all needful support to facilitate your investments in Nepal.” (KNN Bureau)