The Industrial Policy 2011 (2067) of Nepal was formulated to create a favorable environment for industrial development, promote private sector investment, and enhance the competitiveness of Nepali industries. It focuses on transforming Nepal into a self-reliant, export-oriented, and employment-generating economy through sustainable industrial growth. This policy replaced the Industrial Policy of 1992 to address emerging global and domestic economic challenges.
Vision:
The vision of the Industrial Policy 2011 is to develop a competitive, employment-oriented, and export-driven industrial economy that contributes significantly to national economic growth and poverty reduction.
Main Objectives:
The Industrial Policy 2011 has the following major objectives:
- Promote Industrial Investment:
Encourage both domestic and foreign investment by creating a conducive industrial climate with simplified procedures and incentives. - Enhance Employment Opportunities:
Generate more productive and decent employment through the establishment and expansion of industries across the country. - Increase Industrial Productivity and Competitiveness:
Improve productivity and quality of industrial products to compete in national and international markets. - Promote Export-Oriented Industries:
Develop industries that can substitute imports and increase exports, thereby improving the balance of payments. - Encourage Technology Transfer and Innovation:
Promote the use of modern technologies, research, and innovation to enhance industrial efficiency and sustainability. - Balanced Regional Development:
Encourage the establishment of industries in rural and underdeveloped areas to reduce regional disparities and promote inclusive growth. - Environmental Sustainability:
Ensure industrial growth is environmentally responsible and aligned with principles of sustainable development. - Public-Private Partnership (PPP):
Strengthen cooperation between the government and private sector for industrial promotion and infrastructure development.
