The new tabled Industrial Enterprises Bill 2019 is under discussion in the Federal Parliament and yet to be endorsed into an Act. If endorsed, the Bill will become the third amendment to the Industrial Enterprise Act in Nepal. Since the Industrial Enterprise Act was first incepted, it has continuously evolved to facilitate the Industrial landscape of the country. Likewise, the current Bill aims to create investment friendly environment in Nepal, facilitate the production of goods and services, create job opportunities, enable optimal utilization of available resources, promote exports and create a robust economy.
The bill has some positive facets such as the provision of one-stop service centre and the use of electronic medium for the purpose of registering a business and obtaining permits. While provisions like this facilitate businesses and attract investments, there are several provisions in the bill which might have a deleterious impact on various industries and overall business environment. On such ground, the brief attempts to identify the shortcomings that are present in the provisions of the bill and make recommendations for amendments accordingly.
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