September 20: In the first two months of the current fiscal year 2023/2024, foreign investors have committed to investing Rs 14.65 billion in Nepal.
This commitment came when the Department of Industry approved 111 plans of foreign investors in the months of Shrawan and Bhadra of FY 2023/2024.
According to data released by the Department of Industry on Monday, a significant investment commitments were made in Shrawan. While the number of approved plans in Shrawan stood at 60, the commitment for investment was Rs 11.93 billion.
Even though there were 51 plans approved in Bhadra, the investment commitment was only Rs 2.72 billion. Foreign investors can invest in various sectors, including production-based industries, energy, agriculture, tourism, minerals, services, telecommunications, and information technology in Nepal.
Although investments can be made in eight sectors, the majority of investors seem to be interested in the service and tourism sectors. In the first two months of the fiscal year, 53 plans were approved in the tourism sector, and 44 in the service sector.
While there is only one plan approved for each of the production-based, energy, and agriculture sectors, two plans were approved for telecommunications and information technology.
According to the department, these approved plans are expected to create 5,502 jobs in the country when they are implemented.