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Addressing a roundtable discussion in the capital on Thursday regarding the ‘problems faced by industries inside the Bhairahawa SEZ,’ the stakeholders said that the government’s decision to reduce the compulsory export provision for industries inside SEZ to 60 per cent from the existing 75 per cent is investment-friendly and will encourage the private sector towards investing in such protected zones of the government, according to the Society of Economic Journalists of Nepal (SEJON) which organised the discussion.</p>
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Along with reducing the mandatory export provision for industries operating within the SEZ to 60 per cent of their production, the new SEZ Bill also assures 100 per cent income tax waiver for such industries for the first five years and 50 per cent income tax waiver thereafter, SEJON said in a statement.</p>
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Addressing a roundtable discussion in the capital on Thursday regarding the ‘problems faced by industries inside the Bhairahawa SEZ,’ the stakeholders said that the government’s decision to reduce the compulsory export provision for industries inside SEZ to 60 per cent from the existing 75 per cent is investment-friendly and will encourage the private sector towards investing in such protected zones of the government, according to the Society of Economic Journalists of Nepal (SEJON) which organised the discussion.</p>
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With various amendments intended to promote export provisions for industries inside SEZ and assure further tax incentives, the cabinet had endorsed the SEZ Bill last week. The SEZ Bill has been tabled at the Parliament for final approval.</p>
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Along with reducing the mandatory export provision for industries operating within the SEZ to 60 per cent of their production, the new SEZ Bill also assures 100 per cent income tax waiver for such industries for the first five years and 50 per cent income tax waiver thereafter, SEJON said in a statement.</p>
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Similarly, the Bill has also reduced the rental fee for industries within SEZ to Rs 20 per square meter per month from Rs 150 per square meter month.</p>
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Speaking at the discussion programme, Shankar Sharma, former vice-chairman of the National Planning Commission (NPC) said that though the SEZ Bill has attempted to promote investment inside the SEZs, the government should now focus on effective implementation of the new laws.</p>
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“The new SEZ Bill has addressed some of the key issues raised by investors inside the SEZ. However, it is crucial that the government implements the law properly through enhanced cooperation between the government agencies,” said Sharma.</p>
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January 25: Stakeholders of the industrial sector have expressed their view that the recent amendment to the Special Economic Zone (SEZ) Act will encourage investors towards injecting investments in the special economic zones.</p>
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Addressing a roundtable discussion in the capital on Thursday regarding the ‘problems faced by industries inside the Bhairahawa SEZ,’ the stakeholders said that the government’s decision to reduce the compulsory export provision for industries inside SEZ to 60 per cent from the existing 75 per cent is investment-friendly and will encourage the private sector towards investing in such protected zones of the government, according to the Society of Economic Journalists of Nepal (SEJON) which organised the discussion.</p>
<p>
With various amendments intended to promote export provisions for industries inside SEZ and assure further tax incentives, the cabinet had endorsed the SEZ Bill last week. The SEZ Bill has been tabled at the Parliament for final approval.</p>
<p>
Along with reducing the mandatory export provision for industries operating within the SEZ to 60 per cent of their production, the new SEZ Bill also assures 100 per cent income tax waiver for such industries for the first five years and 50 per cent income tax waiver thereafter, SEJON said in a statement.</p>
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Speaking at the discussion programme, Shankar Sharma, former vice-chairman of the National Planning Commission (NPC) said that though the SEZ Bill has attempted to promote investment inside the SEZs, the government should now focus on effective implementation of the new laws.</p>
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Addressing a roundtable discussion in the capital on Thursday regarding the ‘problems faced by industries inside the Bhairahawa SEZ,’ the stakeholders said that the government’s decision to reduce the compulsory export provision for industries inside SEZ to 60 per cent from the existing 75 per cent is investment-friendly and will encourage the private sector towards investing in such protected zones of the government, according to the Society of Economic Journalists of Nepal (SEJON) which organised the discussion.</p>
<p>
With various amendments intended to promote export provisions for industries inside SEZ and assure further tax incentives, the cabinet had endorsed the SEZ Bill last week. The SEZ Bill has been tabled at the Parliament for final approval.</p>
<p>
Along with reducing the mandatory export provision for industries operating within the SEZ to 60 per cent of their production, the new SEZ Bill also assures 100 per cent income tax waiver for such industries for the first five years and 50 per cent income tax waiver thereafter, SEJON said in a statement.</p>
<p>
Similarly, the Bill has also reduced the rental fee for industries within SEZ to Rs 20 per square meter per month from Rs 150 per square meter month.</p>
<p>
Furthermore, the SEZ Bill has also reduced the minimum investment ceiling for industries inside SEZ to Rs 20 million from Rs 50 million. </p>
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Speaking at the discussion programme, Shankar Sharma, former vice-chairman of the National Planning Commission (NPC) said that though the SEZ Bill has attempted to promote investment inside the SEZs, the government should now focus on effective implementation of the new laws.</p>
<p>
“The new SEZ Bill has addressed some of the key issues raised by investors inside the SEZ. However, it is crucial that the government implements the law properly through enhanced cooperation between the government agencies,” said Sharma.</p>
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January 25: Stakeholders of the industrial sector have expressed their view that the recent amendment to the Special Economic Zone (SEZ) Act will encourage investors towards injecting investments in the special economic zones.</p>
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Addressing a roundtable discussion in the capital on Thursday regarding the ‘problems faced by industries inside the Bhairahawa SEZ,’ the stakeholders said that the government’s decision to reduce the compulsory export provision for industries inside SEZ to 60 per cent from the existing 75 per cent is investment-friendly and will encourage the private sector towards investing in such protected zones of the government, according to the Society of Economic Journalists of Nepal (SEJON) which organised the discussion.</p>
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With various amendments intended to promote export provisions for industries inside SEZ and assure further tax incentives, the cabinet had endorsed the SEZ Bill last week. The SEZ Bill has been tabled at the Parliament for final approval.</p>
<p>
Along with reducing the mandatory export provision for industries operating within the SEZ to 60 per cent of their production, the new SEZ Bill also assures 100 per cent income tax waiver for such industries for the first five years and 50 per cent income tax waiver thereafter, SEJON said in a statement.</p>
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January 25: Stakeholders of the industrial sector have expressed their view that the recent amendment to the Special Economic Zone (SEZ) Act will encourage investors towards injecting investments in the special economic zones.
Addressing a roundtable discussion in the capital on Thursday regarding the ‘problems faced by industries inside the Bhairahawa SEZ,’ the stakeholders said that the government’s decision to reduce the compulsory export provision for industries inside SEZ to 60 per cent from the existing 75 per cent is investment-friendly and will encourage the private sector towards investing in such protected zones of the government, according to the Society of Economic Journalists of Nepal (SEJON) which organised the discussion.
With various amendments intended to promote export provisions for industries inside SEZ and assure further tax incentives, the cabinet had endorsed the SEZ Bill last week. The SEZ Bill has been tabled at the Parliament for final approval.
Along with reducing the mandatory export provision for industries operating within the SEZ to 60 per cent of their production, the new SEZ Bill also assures 100 per cent income tax waiver for such industries for the first five years and 50 per cent income tax waiver thereafter, SEJON said in a statement.
Similarly, the Bill has also reduced the rental fee for industries within SEZ to Rs 20 per square meter per month from Rs 150 per square meter month.
Furthermore, the SEZ Bill has also reduced the minimum investment ceiling for industries inside SEZ to Rs 20 million from Rs 50 million.
Speaking at the discussion programme, Shankar Sharma, former vice-chairman of the National Planning Commission (NPC) said that though the SEZ Bill has attempted to promote investment inside the SEZs, the government should now focus on effective implementation of the new laws.
“The new SEZ Bill has addressed some of the key issues raised by investors inside the SEZ. However, it is crucial that the government implements the law properly through enhanced cooperation between the government agencies,” said Sharma.
Similarly, Toyam Raya, director general at the Department of Customs, said that current laws are contradictory resulting in difficulty in their effective implementation.
“Thus, the government should ensure that any law should not contradict with another one while formulating them,” said Raya.
On the occasion, Hara Raj Neupane, deputy managing director of Nepal Electricity Authority (NEA) assured that the authority is serious in providing necessary power supply in the industrial sector, including the Bhairahawa SEZ.
Meanwhile, former Commerce Secretary Purshottam Ojha said that the government should focus on implementing the one-door policy for industries inside SEZs.
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Along with reducing the mandatory export provision for industries operating within the SEZ to 60 per cent of their production, the new SEZ Bill also assures 100 per cent income tax waiver for such industries for the first five years and 50 per cent income tax waiver thereafter, SEJON said in a statement.</p>
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<p>
Along with reducing the mandatory export provision for industries operating within the SEZ to 60 per cent of their production, the new SEZ Bill also assures 100 per cent income tax waiver for such industries for the first five years and 50 per cent income tax waiver thereafter, SEJON said in a statement.</p>
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'title' => 'Stakeholders Welcome Amendment to SEZ Act',
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'summary' => 'January 25: Stakeholders of the industrial sector have expressed their view that the recent amendment to the Special Economic Zone (SEZ) Act will encourage investors towards injecting investments in the special economic zones.',
'content' => '<p>
January 25: Stakeholders of the industrial sector have expressed their view that the recent amendment to the Special Economic Zone (SEZ) Act will encourage investors towards injecting investments in the special economic zones.</p>
<p>
Addressing a roundtable discussion in the capital on Thursday regarding the ‘problems faced by industries inside the Bhairahawa SEZ,’ the stakeholders said that the government’s decision to reduce the compulsory export provision for industries inside SEZ to 60 per cent from the existing 75 per cent is investment-friendly and will encourage the private sector towards investing in such protected zones of the government, according to the Society of Economic Journalists of Nepal (SEJON) which organised the discussion.</p>
<p>
With various amendments intended to promote export provisions for industries inside SEZ and assure further tax incentives, the cabinet had endorsed the SEZ Bill last week. The SEZ Bill has been tabled at the Parliament for final approval.</p>
<p>
Along with reducing the mandatory export provision for industries operating within the SEZ to 60 per cent of their production, the new SEZ Bill also assures 100 per cent income tax waiver for such industries for the first five years and 50 per cent income tax waiver thereafter, SEJON said in a statement.</p>
<p>
Similarly, the Bill has also reduced the rental fee for industries within SEZ to Rs 20 per square meter per month from Rs 150 per square meter month.</p>
<p>
Furthermore, the SEZ Bill has also reduced the minimum investment ceiling for industries inside SEZ to Rs 20 million from Rs 50 million. </p>
<p>
Speaking at the discussion programme, Shankar Sharma, former vice-chairman of the National Planning Commission (NPC) said that though the SEZ Bill has attempted to promote investment inside the SEZs, the government should now focus on effective implementation of the new laws.</p>
<p>
“The new SEZ Bill has addressed some of the key issues raised by investors inside the SEZ. However, it is crucial that the government implements the law properly through enhanced cooperation between the government agencies,” said Sharma.</p>
<p>
Similarly, Toyam Raya, director general at the Department of Customs, said that current laws are contradictory resulting in difficulty in their effective implementation.</p>
<p>
“Thus, the government should ensure that any law should not contradict with another one while formulating them,” said Raya.</p>
<p>
On the occasion, Hara Raj Neupane, deputy managing director of Nepal Electricity Authority (NEA) assured that the authority is serious in providing necessary power supply in the industrial sector, including the Bhairahawa SEZ.</p>
<p>
Meanwhile, former Commerce Secretary Purshottam Ojha said that the government should focus on implementing the one-door policy for industries inside SEZs.</p>
<p>
</p>
<p>
</p>
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