Despite Covid-19, Nepal received commitment for Rs 26 billion FDI in past 6 months

Kathmandu, October 8

Although the Covid-19 pandemic has hit the country’s overall economy, Nepal attracted commitments from foreign businesspersons for an investment worth Rs 26 billion in total, informs the Department of Industry.

The department’s Information Officer Binod Khadka says foreign investors have expressed commitments to invest in various 132 projects. These commitments were received from March 24 to September 29, according to him.

Chinese investors have committed the highest amount in this period. The department informs they have committed Rs 21 billion in various 119 projects. Likewise, Indians have submitted six projects, Britishers and Dutch two each, and Mexicans, Malaysians, and British Virgin Island investors one each.

Of the 132 projects, 130 are small-scale, one medium and one big enterprises, according to the department’s categorisation.

If all the commitments materialise, 4,217 people will get employment opportunities.

Meanwhile, the department says the amount of FDI commitment increased by 49.1 per cent last fiscal year that ended in mid-July 2020 although the last months were hit by the pandemic.

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