DoI confirms over Rs 250 bn investment commitments in 11 months of FY 2023-24

Nepal to simplify foreign investment procedures

KATHMANDU: The Department of Industry (DoI) has confirmed investment commitments exceeding Rs 250 billion in the first 11 months of the current fiscal year (FY 2023/24).

During this period, 383 industries were registered, including 49 large industries, 50 medium industries, and 284 small industries. The registered industries collectively received investment commitments worth Rs 200.17 billion.

According to data published by the DoI on Wednesday, from mid-May to mid-June alone, 59 industries were registered with investment commitments amounting to Rs 32.20 billion. The government’s investment summit held on April 28-29 played a significant role in attracting both domestic and foreign investments. Following the summit, nine large industries were registered within the mid-May to mid-June period.

Additionally, 355 companies have been approved for Foreign Direct Investment (FDI) this fiscal year. The newly registered industries and domestic investments are expected to create employment for 26,027 people, while industries with foreign investment are projected to provide jobs to 17,642 individuals.

The DoI data also indicated that during this period, two patents and 5,494 trademarks were registered, 45 initial environmental assessments were conducted, and 89 trademark-related lawsuits were filed.

Fiscal Nepal |
Thursday July 11, 2024, 10:34:21 AM |

Leave a Reply

Your email address will not be published. Required fields are marked *