First Business News Portal in English from Nepal
KATHMANDU: Despite the COVID-19 pandemic, considering the long-term profit, foreign investors are willing to invest in Nepal.
During the first four months of the current fiscal year, foreign investors have made investment commitment of around Rs 20 billion. According to the Department of Industry, proposals for foreign investment worth Rs 19.81 billion have been made from mid-July to mid-November.
According to the department, a total of 94 industries have been registered with the said investment. However, the foreign investment proposals are about Rs 5.5 billion less than in the same period of the last fiscal. In the corresponding period of the previous year, foreign investment commitment was worth Rs 25.59 billion and 115 new industries had been registered.
Among the foreign investment commitments made in the first four months of the current fiscal year, the highest investment commitment has been made in the tourism sector. During the same period, 61 new industries with foreign investment have been registered in the tourism sector.
According to the department, more than 1,600 youths will get employment after the industries come into operation. In the first four months of last year, foreign investment of Rs 7.30 billion was committed for the operation of 49 industries.
Similarly, foreign investment of Rs 4.65 billion has been committed for the operation of 26 industries in the services sector. These industries will provide employment opportunities to 1,063 people.
Likewise, foreign investment has been committed for the operation of three new industries each in the infrastructure and productive sectors. Of the total commitment, Rs 300 million has been committed for the operation of three industries in the infrastructure sector.
Foreign investment commitment of Rs 360 million has been made for the operation of three new industries in the productive sector. The industries will provide employment to 81 people.
Meanwhile, foreign investment commitment worth Rs 350 million has been made in the agriculture sector in the review period. There is only one industry commitment towards agriculture which is expected to provide employment opportunities to 329 people.
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