KATHMANDU, April 28: The Investment Board Nepal (IBN) has launched a one-stop service center, aiming to provide easy accessibility for potential investors.
According to the IBN, it has launched a portal to facilitate its one-stop service center. After logging into this portal, investors can submit investment proposals. Through the system, investors can also receive services from 14 government agencies that are in the process of being integrated into the platform.
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As per the IBN, it has sent letters to the concerned offices including the Office of the Company Registrar, the Inland Revenue Department, the Department of Customs, and the Department of Immigration for this purpose. Apart from these, the Ministry of Land Management, Cooperatives and Poverty Alleviation, the Ministry of Physical Infrastructure and Transport, the Ministry of Forests and Environment, Nepal Rastra Bank, the Department of Immigration, and the Inland Revenue Department will be integrated in the system.
Similarly, the Department of Industry, the Department of Mines and Geology, the Department of Customs, the Department of Labor and Occupational Safety, the Department of Electricity Development, the Office of the Company Registrar, and the Nepal Telecommunications Authority are included. Other agencies designated by the board may also be included as needed.
The Office of the Prime Minister and Council of Ministers has already corresponded with concerned ministries and agencies to join the system. According to the IBN, 14 government agencies have designated focal persons with authorization for the one-stop service center.
Sushil Gyawali, chief executive officer of the IBN, said that the single point service center will make the process related to investors faster and easier. He added that the service delivery will be made effective through the use of information technology and most of the work will be done through an automated system in the coming days.
Once the service center is fully operational, almost all the related services ranging from the evaluation of investment proposals to the approval process, company and tax registration, industry registration, foreign exchange permits, labor permits, visas and other necessary permits will be available from a single platform. In addition, the work required for the projects, including private and government land management, environmental study approval, among others, will also be facilitated.
