Nepal receives investment commitments worth over Rs 250 billion in 11 months, 383 industries registered

The Department of Industry (DoI) has confirmed investment commitments worth over Rs 250 billion in 11 months of the current fiscal year (FY 2023/24).

During this period, 383 industries were registered. According to the data published by the DoI on Wednesday, among the newly registered industries 49 were large industries, 50 middle industries, and 284 small industries.

During the 11 month period, the registered industries received investment commitments worth Rs 200.17 billion .

According to the DoI, 59 industries were registered in mid-May to mid-June alone with investment commitments worth 32.20 billion.

The government held an investment summit on April 28/29 aimed at attracting domestic and foreign investments. The summit positively impacted both internal and external investments. According to the DoI, nine large industries have been registered within mid-May to mid-June after the investment summit was held.

Similarly, a total of  355 companies have been approved for Foreign Direct Investment (FDI) this year. .

According to the DoI, the newly-registered industries and the domestic investment approved by the government will provide employment to 26,027 people. Similarly, industries registered with foreign investment are expected to provide employment to 17,642 people.