Nepal Approves Rs 58 Billion Foreign Investment

The Department of Industry has approved foreign investment commitments worth Rs 58.18 billion for the fiscal year 2082/83.

According to the department, during the period from Shrawan to Ashar, 897 projects worth Rs 9.58 billion were approved through the ‘automatic route’, while 219 projects worth Rs 48.41 billion were approved through the ‘approval route’.

The department stated that in the previous year, foreign investment commitments of Rs 3.91 billion were made for 63 production-based projects. Similarly, four energy-based projects received foreign investment commitments of Rs 7.16 billion.

Additionally, 18 agriculture-based projects received foreign investment commitments of Rs 2.31 billion, while 227 tourism-based projects received commitments of Rs 1.39 billion. The department also reported that 727 information technology-based projects received foreign investment commitments of Rs 283 million.