Nepal received foreign direct investment (FDI) commitments totaling Rs 33.09 billion for 236 projects in the first two months of the current fiscal year, according to the Department of Industry.
The department’s report, covering mid-July to mid-September, shows pledges for 225 small-scale, four medium-scale and seven large-scale projects. By number of projects, the information technology (IT) sector led with 120 projects worth Rs 562.75 million, while the agriculture sector topped the list by pledged investment amount with Rs 21.60 billion committed for nine projects.
Read: Nepal Receives Nearly a Third of FDI from Tax Havens: Report
Other sectors also attracted notable commitments. The tourism sector drew pledges of Rs 6.69 billion for 79 projects, the manufacturing sector secured Rs 1.24 billion for 12 projects, the services sector recorded Rs 2.82 billion for 15 projects, and the energy sector received Rs 182.55 million for a single project.
During the same period, the department facilitated visa arrangements for 409 foreign investors, 60 representatives of investors and 107 dependents. Since its inception, the Department of Industry has approved 7,475 projects with a cumulative FDI commitment of Rs 684.51 billion, the report added.
To facilitate, the department had earlier launched the system of approval of foreign investment through the automatic route. Accordingly, foreign investors can apply for establishing a new company with 100 per cent share ownership or joint venture or investment capital in an already operating company through automatic route.
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