HP Govt to set up Investment Bureau for single-roof facilitation mechanism

| | Shimla
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HP Govt to set up Investment Bureau for single-roof facilitation mechanism

Friday, 31 March 2023 | PNS | Shimla


 
PNS/
 
To scale up the ease of doing business and to minimize delay in getting requisite approvals through a single-roof facilitation mechanism, the Himachal Pradesh Government is establishing an ‘Investment Bureau’ in the State.
 
“The Investment Bureau would replace the old single-window system and would be given the powers to approve investment proposals,” said the Chief Minister Sukhvinder Singh Sukhu, while presiding over a meeting to discuss the modalities of the proposed Bureau.
 
The Chief Minister said that the Investment Bureau would be set up under the Industries Department and will comprise officers from all the concerned departments to facilitate hassle-free investment and would work together to ensure that the investment cases are processed quickly and efficiently. Additionally, penal provisions would be in place for the officers responsible for the delay, he added.
 
Sukhu said that the Bureau would consist of two committees — an Executive Committee be formed under the CEO of the Investment Bureau responsible to oversee investment cases on a day-to-day basis; whereas an Apex Committee will be headed by the Chief Minister himself which would be responsible for approving investment proposals.
 
The Chief Minister said that the establishment of the Investment Bureau aims to expedite the approval process, allowing investors to start their work soon after applying and the State Government would make necessary amendments in law as well to empower the Investment Bureau.
 
The State Government is expecting investment in tourism besides attracting investments in IT, solar energy, green hydrogen, and other sectors. The investments would not only generate revenue for the state exchequer but will also open employment opportunities to the youth, said the Chief Minister.
 
He said: “The Government’s move to establish the Investment Bureau is expected to reduce delays and streamline the process of doing business in the state which will go a long way in attracting more and more investors besides strengthening the economy of state”.
 

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