286 firms registered in nine months

By A Staff Reporter,Kathmandu, Apr. 21: Domestic and foreign investment of around Rs. 165 billion has been proposed during the first nine months of the current fiscal year 2023/24.

According to the monthly report released by the Department of Industry (DoI), domestic and foreign industries with an investment of Rs. 165 billion for 286 industries have been proposed as of mid-April of the current fiscal year 2023/24.

Of these, 36 large, 27 medium and 223 small scale industries have been registered. The Department of Industry had set a target of registering 80 large, 85 medium and 200 industries in the current fiscal year 2023/24. 

Similarly, 28 new industries of domestic and foreign investment have been registered in the month of Chitra (from March 14 to April 12). They have committed to invest Rs. 10.59 billion in these industries.

It has been mentioned that 20,137 people will be provided direct employment in the domestic and foreign projects that have been registered and proposed for investment in a period of nine months. 

Similarly, according to Department, 4,209 trademarks have been registered. 

Nepal's receive FDI commitment of Rs. 30.09 billion

The foreign investors have made their commitment to invest around Rs. 30.09 billion in the first nine months of the current fiscal year. In the first nine months of the current fiscal year 2023/24, foreign investment commitments worth Rs. 30.09 billion were made for 269 industries. 

They have also committed to provide jobs for 13,843 people in these industries. It has been seen that there has been a high increase in foreign investment commitments during the review period as compared to same period of last fiscal year. 

In the nine months of the last fiscal year, Nepal received foreign direct investment commitment worth Rs. 28.11 billion. According to the Department, it approved investment of a total of 269 foreign firms as of April 12, 2024.

Foreign investment worth only around Rs. 965 million has been committed to establish new industries and businesses in Nepal in a single month of Chitra.

However, foreign investment worth Rs. 6.47 billion has been committed to establish new industries and businesses in a single month of Falgun and Rs. 345 million in the month of Magh for the investment in various sectors.

According to the DoI, Nepal has received foreign investment commitments of Rs. 480 billion for 6,128 industries so far since the beginning. Out of the FDI approved in the review period of the current fiscal year, 253 fall under the category of small industries. Likewise, 13 are medium industries and three are large industries.

Out of the total FDI commitments, 122 firms look for investing in tourism businesses, the largest of all. This accounts for 45 per cent of the total number.

Similarly, 93 firms have made commitment to invest in service-related industries, followed by nine in information technology, six in infrastructure, five in agriculture and two for mines.

By mid-April of the current fiscal year, the repatriation amount (royalties and dividends) of the foreign companies invested in Nepal stood at Rs. 9.04 billion. The repatriation amount of foreign companies was Rs. 13.77 billion in the first nine months of the last fiscal year.