Nepal attracts Rs 15.17 billion in foreign investment in FY 2016\17

Foreign Investment

KATHMANDU, July 20: Foreign investment worth Rs 15.17 billion has entered industry sector of the country in the fiscal year 2016\17, according to the Department of Industry (DoI).

A total of 395 industries (small-scale 370, 16 medium and nine big) received the investment. Of the investment amount, Rs 6.22 billion had gone to big industries, Rs 1.17 billion to medium and Rs 7.61 billion to small.

China topped the list of investors with a total of Rs 6.24 billion investment in the total 183 industries (six big, seven medium and 170 small).

Likewise, India invested Rs 1.99 billion in the total 40 industries (one big, three medium and 36 small). Also the United States of America invested in a total of 38 industries while South Korea in 15, Japan in 12, the United Kingdom and Netherlands in nine each, France in eight, Bangladesh and Switzerland in seven each, Germany in six and Belgium and Canada in five each.

DoI’s Spokesperson Durga Prasad Bhusal said the flow of foreign investment had started increasing with the passage of the new constitution of the country on September 20, 2015.

Likewise, General Secretary of the Federation of Nepal Cottage and Small Industries Dambar Prasad Regmi stressed the need for formulating investor’s friendly policy for attracting as much as foreign investment. RSS