Wednesday, 16th April 2014

Rs 18.9 billion FDI in seven months


Privacy Policy

Foreign direct investment (FDI) in Nepal has reached Rs 18.9 billion during the first seven months of the current fiscal year.

At a programme organised at the Prime Minister's Office on Sunday, officials said that 135 projects of FDI have been approved during the period.

The country received Rs 19.94 billion FDI in fiscal year 2012/13 and Rs 7.14 billion in the previous fiscal year.

The number of projects receiving FDI has reached 2,787 so far, surpassing Rs 113 billion the investment. It is said that 186,789 are employed in the projects of the FDI. Investors from China, India, Japan, South Korea, the USA and the UK, among others countries are the FDI contributors in Nepal.

Secretary at the Ministry of Finance Shantaraj Subedi said that the ministry was ready to resolve the policy-level hassles to lure FDI. He said FDI alongside the domestic investments was needed for the country's development and the government would do needful for the same.

Secretary at the Ministry of Industry Krishna Gyawali said that approval of the proposed Industrial Management Act, 2070 BS should not be delayed as well as Industrial Entrepreneurship Act 2049 BS and Foreign Investment and Technology Act, 2049 BS should be made timely relevant.