Himachal to set up Investment Bureau to streamline investment proposals

Shimla (Himachal Pradesh) [India], March 30 : To scale up ease of doing business and minimise the delay in getting requisite approvals, the Himachal Pradesh government is set to establish an Investment Bureau, Chief Minister Sukhvinder Singh Sukhu said.

The Investment Bureau would replace the old 'single-window' system and would be vested with powers to approve investment proposals, said the chief minister.

The chief minister made the announcement on Wednesday while presiding over a meeting to discuss the modalities of the proposed investment bureau.

He said 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, adding that it would work together to ensure that the investment cases are processed quickly and efficiently.

Additionally, penal provisions would also be in place for the officers responsible for delay, if any, the CM added.

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 state government is expecting large investments in tourism, IT, solar energy, and green hydrogen.

"The government's move to establish the Investment bureau is expected to reduce delays and streamline the process of doing business in the state," Sukhu said.

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