Trending Finance Posts
Stay updated with the latest news in the finance industry.

59 industries committed 8.5 billion dollars in foreign investment in July.

The Department of Industry's records show that in July of last year, 8.55 billion rupees worth of foreign direct investment was approved. According to the Department of Industry, 5 trillion 20 billion 448.4 million in foreign investment promises have been received thus far.

There are two large enterprises and 57 small industries among the 59 registered industries in July. 323 persons are expected to receive direct employment from these industries. 323 individuals will receive direct employment from these sectors, which are approved for foreign investment.


Similarly, 5 trillion 20 billion 44 crore rupees have been committed for foreign investment between the end of the fiscal year 2080–2081 and the first month of the current year. Sixty-three large and small industries have been granted permission to register in the past thirteen months. It is stated that 334 thousand 624 people can find work with them.

The tourism industry accounted for 73% of the promises received in July, according to the Department of Industry. Sixteen percent of the industry is dedicated to the service sector, and seven percent is related to agriculture. Similarly, the department stated that 1 percent went to the IT business and 3 percent went to processing.


The department has advised 208 investors to obtain business visas in order to conduct operations in Nepal, just in July. In a similar vein, 55 representatives have advised getting visas. 58 dependents were also granted visas along with them.

Through royalties, 11 crore 43 lakh 79 thousand rupees were released in July. A royalty payment of Rs 499.457 million was made in July of last year. The department reports that royalties have also released 257,000 US dollars. Similarly, royalty has also been used to appropriate 34 lakh twenty-four thousand Indian rupees. 10,200 euros have also been removed in addition to this.


The Department of External Lagna Industry has also approved a service charge of 384 million 27 thousand rupees. In addition, 3 lakh 3 thousand Indian rupees and 27 lakh 34 thousand US dollars have been deducted for service expenses.


The Department of Industry reports that 31 businesses were granted permission to make foreign investments in July under the automated procedure. The 31 businesses that emerged via the automated path are all small-scale businesses. This includes one infrastructure, two manufacturing, four tourism, two services, and twenty-two information technology. A total of 59.75 million sixty thousand rupees have been invested in these 31 industries. Manufacturing accounts for 75 million, tourism for 140 million, services for 160 million, infrastructure for 20 million, and information technology for 202.5 million.


During the investment conference that took place in May of last year, the automatic investment approval system was put into place. A notification announcing the decision to approve online foreign investment projects with a maximum capital of 50 million rupees was published in the Nepal Gazette on October 15, 2080. As a result, the program to deliver investments via automatic route was put into place during the second week of May of last year.

Net foreign direct investment (FDI) received in 2080–2081 was 8.4 billion rupees. The annual report from Nepal Rastra Bank states that FDI inflows rose by 36.1 percent in 2018 over the previous year.


Rashtra Bank data shows that while foreign investments were 8.47 billion 47 lakh rupees in total, previous investments of 73.39 million rupees were withdrawn, leaving 8.44 billion rupees as net foreign investments.

Through the automated channel, 8 billion 11 crore rupees worth of investment commitments were obtained in 139 industries last year. Likewise, through the approved procedure, 61,904,450,000 rupees in investment commitments were received in 407 industries.

Tags:
    Share: