In a move encouraging industrial development in Nepal, the government decided to set up an Industrial Enterprise Development Institute (IEDI) one each in all the seven provinces.
The Cabinet approved this proposal of the Ministry of Industry, Commerce and Supplies (MoICS) on October 15, 2018, informed Matrika Prasad Yadav, Minister, MoICS.
IEDI has been limited to the central level since its inception in 1996 under the Industrial Enterprise Development Institute Act 1996.
Now, IEDI board’s new decision will promote it at the provincial levels promoting business environment in the country through entrepreneurship development.
The initiative aims to develop human & knowledge resource needed for business and entrepreneurship promotion in the country.
With focus on Research & Development, testing and implementation of world’s best practices in business development, IEDI has been actively supporting impact-generating activities such training & consultancy, enterprise and management development programs.
“Formation of such institutes in all provinces will help entrepreneurship to grow in Nepal and promote business,” says Industry Secretary Yam Kumari Khatiwada.
According to Khatiwada, IEDI currently has local offices in Provinces 1, 3, 4 and 5, which will now be operated by the provincial governments, and similar ones will also be established in Provinces 2, 6 and 7 upon cabinet approval.
In another update, the Cabinet has decided to limit the authority of Special Economic Zone (SEZ) Authority to the Center.
Let’s hope more such enhancements to the existing policies and implementation of new measures will boost the industrial development in Nepal, thus also generating ample employment opportunities in the country.