Foreigners make Rs 24 billion investment pledge in seven months

KATHMANDU: The Department of Industry (DoI) has approved over Rs 24 billion in foreign investment in the last seven months.

As per DoI statistics, majority of investment is focused on tourism and service sector through 131 industries. However, there is zero investment commitment in the hydropower sector during this period.

According to the department, 78 and 32 industries have been registered in the tourism and service sectors with the highest commitment in the last seven months. While Rs 15.53 billion investment has been approved in the tourism sector, Rs. 5.21 billion investment has been approved in the service sector.

Similarly, Rs. 2.59 billion foreign investment has been committed through 13 industries in the manufacturing sector during this period.

However, investors has not made any commitment to invest in hydropower sector in the first seven months of this fiscal year. In the corresponding period of the previous fiscal year, investment commitment of Rs 11.82 billion was made in Nepal through six industries in the hydropower sector.