Department of Industry is one of the major agencies at the Ministry of Industry which is responsible for implementation of policy, act, rules and regulations related to the industrial development, through which Government of Nepal plans to strengthened Nepalese economy. The department, as per the revised Industry Enterprise Act (IEA), 2016, administers and facilitates the Middle and Large scale industries which have fixed assets of more than 100 million Nepalese rupees. Furthermore, its scope of function also includes foreign investment and technology transfer in the industry as well as protection of industrial property.
Function, Responsibility and Authority of the Department
The major functions of the Department of Industry are as follows:
- Promote local and foreign investment for industrial development;
- Support in formulation of acts and laws related to industrial as well as foreign investment;
- Approve industry registration and provide a license to the industry which requires permission;
- Register medium and large scale industry which has fixed assets of more than 100 million Nepalese rupees;
- Provide permission for foreign investment, technological transfer and foreign loan; register foreign investment based industries
- Recommend for visa to foreign investors;
- Recommend for facilities and concessions accorded to industries;
- Perform administrative works related to industrial property;
- Approve Initial Environment Examination (IEE) report of the industry;
- Prepare raw material consumption norms for the industry;
- Monitor, as and when required, environmental compliance of the industry;
- Recommend Certificate of Origin for the products for preferential entry into India as per Nepal-India Trade Treaty;
- Act as the secretariat to Industry and Investment Promotion Board and One Stop Service for administration of various facilities as provided by IEA.