Nepal receives investment pledges for 30 billion in five months

KATHMANDU: Nepal has received foreign investment commitment of Rs 30 billion in the first five months of the current fiscal year that began on July 16.

According to the data unveiled by the Department of Industries, commitments have been made for investment of around Rs 30 billion in 122 industries in the past five months (July 16 to December 7) of the current fiscal year.

Department’s information officer Gyanendra Parajuli said those industries have been registered under different six categories.

The highest commitment is for the service-oriented sector as Rs 15.95 billion has been pledged for 35 industries under this category.

Towards the service sector, pledges have been received from China (Rs 600 million for four industries based on agriculture and forest products), from Netherlands (Rs 56 million for energy-based industry and Rs 450 million for four industries relating to information, communications and broadcasting service.

Likewise, 3.24 billion has been pledged for 19 production-based industries and Rs 9.55 billion for 55 tourism industries.

As per the new provision, an industry having less than Rs 50 million of foreign investment is not registered in the country.

China is the country that promises for the highest investment (around 80 percent) in Nepal in the given period.

China pledges for the investment of over Rs 23.64 billion in 102 industries.