Foreign Investment Of Rs 19 Billion Approved
November 17, 2020 | Investopaper
In the first three months of the current fiscal year, foreign investment of more than Rs 19 billion has been approved in Nepal. Nepal received commitment of Rs. 38 billion in foreign investment during the last fiscal year.
Contrary to estimates that investment in the midst of the Corona crisis will be much lower than last year, the Ministry of Industry has said that investment proposals have come from various countries, including China. The amount of foreign investment committed in Nepal was significant at a time when foreign investment was expected to decline not only in Nepal but also globally.
According to the Department of Industry, most of the industries proposed to invest in Nepal are medium level and 99 investment proposals have been approved during this period.
Of the approved investments, 82 are from China and 17 are from other countries. Of the industries approved for investment in Nepal, 58 are related to the tourism sector and 25 are related to the service sector.
