Good Governance Blueprint, 2082 stresses promoting private sector investment
KATHMANDU: The government on Sunday issued the 'Good Governance Blueprint, 2082', forwarding a proposal for extensive policy, legal and structural reforms that promote industrial investment and create an investment‑friendly environment.
The blueprint, released with the target of preparing a basis for economic growth under private sector leadership, has indicated removing obstacles to the mobilisation of internal and foreign investment and transforming the state's role from regulator to facilitator.
Public‑private partnership (PPP) models and the implementation of a national investment policy are prioritised. The document recommends amendments to the Public Private Partnership and Investment Act, the Industrial Enterprises Act and the Technology Transfer Act in a bid to secure substantial investment from the private sector.
The reform paper has suggested implementing safeguarding, anti‑dumping and countervailing measures to protect domestic industries from cheap imports. "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 states.
To bolster the federal structure, the blueprint calls for empowerment of the Investment Board Nepal, development of autonomous institutions and adoption of a policy to decentralise investment promotion. It proposes arrangements to facilitate projects of less than Rs 6 billion at provincial and local levels.
The document recommends developing an integrated investment management system to remove duplication 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.
A policy to strengthen the One‑Stop Service System is proposed to provide services such as foreign investment facilitation, visas for foreign investors, work permits and industry registration from a single point. The blueprint also urges running promotional programmes by preparing a list of potential investors to boost confidence among national and international investors, and reforming laws related to intellectual property rights, patents, designs and trademarks.
The strategy section advises promoting investment and trade by engaging the Nepali diaspora and bolstering foreign partnerships and international economic collaboration.
The blueprint says the government should guarantee industrial and investment security for at least 10 years and adds that administrative responsibility will be ensured by implementing an employee evaluation system based on customer satisfaction.
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