KATHMANDU, Jan 19: The Investment Board Nepal (IBN) has started preparation to operate One Stop Service Center (OSSC) to facilitate investors looking forward to injecting large capital in big projects.
The IBN’s initiative has come up at a time when Nepal has been struggling to materialize a notable portion of the investment pledged by the investors. As per the government records, Nepal received foreign direct investment (FDI) commitments worth Rs 35.13 billion in the first three months of the current fiscal year, however the actual realization was only Rs 1.18 billion.
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According to the IBN, the board has designated the IBN’s Joint Secretary Hemraj Tamang to coordinate the OSSC. Likewise, the board has coordinated with 14 government agencies to assign focal persons to carry forward their concerned official works.
These include the Ministry of Land Management, Ministry of Cooperatives and Poverty Alleviation, Ministry of Physical Infrastructure and Transport, Ministry of Forests and Environment, Nepal Rastra Bank, Department of Immigration, Inland Revenue Department, Department of Industries, Department of Mines and Geology, Department of Customs, Department of Labor and Occupational Safety, Department of Electricity Development, Office of Company Registrar and Nepal Telecommunications Authority.
Sushil Gyewali, chief executive officer of the IBN, said the board has prepared a guideline to coordinate with the focal persons of the concerned government agencies. According to him, the board has given priority to an automated system to coordinate with the government offices to provide all services through a single door.
The government established IBN in 2011 with an aim to facilitate large scale investments of more than Rs 6 billion. The IBN is guided by the Public Private Partnership and Investment Act 2019.
