Nepal received over 80 percent of FDI pledges from China

KATHMANDU, June 20: Nepal received the foreign direct investment (FDI) pledge of 43.22 billion NRS (396 million US dollars) from China against the total FDI commitments of 49.87 NRS (457 million US dollar) in the first ten months of fiscal year that began in mid-July 2017, according to the statistics of Nepal’s Department of Industry.

The pledge received from China stands at 86.66 percent of total FDI commitments. India came second with FDI pledge of 4.04 billion Nepali rupees (37.11 million U.S. dollars). The United States came third followed by Japan and South Korea.

According to the DoI, China had topped the chart in committing FDI in the last two consecutive fiscal years, 2016-17 and 2015-16.

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“We are seeing surging flow of Chinese investors at the DoI for registration of industries in recent years,” said Durga Prasad Bhusal, an information officer at DoI.

“We feel it is just a part of growing Chinese investment across the world,” he added.

According to him, Chinese investment in Nepal has grown in the areas of hydropower, agriculture and tourism.

During the first 10 months of this fiscal, the highest Chinese FDI pledge came into areas of energy-based industries. Mineral, manufacturing and agro- and forest-based industries came second, third and fourth in terms of receiving FDI pledges from China, according to DoI.

News by DILMAYA DEVKOTA