May 1: Investors from 14 countries have registered industries in Nepal in the first nine months of the current fiscal year (FY). Compared to last fiscal year, the foreign investment proposal has improved this year.
Chinese investors are in the forefront among the investors.
According to the Department of Industry, the Chinese businessmen account for 73.21 percent of the total foreign investment proposals. After China, Spain is the second largest investor.
The department informed that a total investment of Rs 33.37 billion has been proposed for the current fiscal year. China's share amounts to Rs 24.43 billion. Chinese investors have registered 121 establishments to invest in Nepal's agriculture and forestry sectors, as well as ICT, manufacturing, service and tourism sectors.
Chinese investors have made the largest investment proposals in the service sector, along with tourism and manufacturing industries. China has proposed to invest Rs 12 billion in the service sector and Rs 9.45 billion in the tourism industry. According to the department, 7,472 people will get employment as per the investment proposed by China.
Meanwhile, Spain has proposed a foreign investment of around Rs 5 billion. Spain has proposed to invest only in the service sector, and has registered a service-oriented establishment with the department. The country plans to invest Rs 4.85 billion in the business. The Spanish investment will provide employment to 29 people.
After China and Spain, India has offered a lot of investment in manufacturing, service and tourism sectors. Indians have proposed a total investment of Rs 1.77 billion out of whic Rs 1.33 billion is to be invested in the service sector and Rs 390 million in the productive sector, according to the records of the department.
Investors from Singapore have also proposed to invest Rs 1 billion by registering a productive business. Although the investment proposals from the United States are less than these five countries, the area of investment is larger. In these nine months, American investors have registered nine establishments with an offer to invest Rs 400 million. These include ICT, manufacturing, service and tourism sectors.
Australia is the sixth largest investor in Nepal with an investment proposal of Rs 345 million.
The data of the department has shown that there is a lot of attraction of foreign investors in the tourism and service sector of Nepal. Investors from some countries want to invest only in tourism and service sectors. In addition, investment proposals have come from France, Italy, Japan, South Korea, Switzerland, the Netherlands, Vietnam and the United Kingdom. Entrepreneurs from nine of these countries want to invest in tourism sector.