Nepal received FDI commitments of Rs 51.56 billion in first 11 months of current FY; investors from India pledged to invest Rs 3.14 billion

Kathmandu: Nepal received commitments for foreign direct investment (FDI) worth Rs 51.56 billion in the first 11 months of the current fiscal year, which was around Rs 13 billion more than the commitment made during the same period last year.

According to the Department of Industry, the pledged amount was for installing 256 production units by the investors from 17 countries including China, Spain and the US, among others. These firms have proposed to provide employment to 14,711 people.

Of the total amount pledged in FDI during the review period, Rs 36.49 billion (70.58 percent) is from Chinese investors. They have sought to establish 200 businesses in Nepal.

Similarly, investors from Spain pledged to invest Rs 4.85 billion, the US pledged to invest Rs 3.69 billion, India Rs 3.14 billion, Singapore Rs 1 billion and Australia based FDI is Rs 506.60 million.