First Business News Portal in English from Nepal
KATHMANDU: Despite the COVID-19 gripping the country, potential foreign direct investment has increased during the pandemic.
According to the Department of Industry (DoI), a total of 132 foreign projects have been proposed which are worth Rs 26 billion. The projects have been proposed from seven different countries.
As per the department, the investment proposals were received in between March 24 and September 27.
Among the total projects, 119 projects worth Rs 21 billion have been proposed by Chinese stakeholders. Similarly, six of the proposals are from India, two from the United Kingdom and two projects have been proposed by investors from the Netherlands.
Similarly, a project each from Mexico, Malaysia and Iceland has also been proposed during the pandemic period.
Of the proposals that have been received, 130 are for small industries, one is for a medium industry while another proposal is for a large-scale industry.
If the projects do materialize then the 132 projects in total could provide an estimated employment opportunity to around 4,217 people in the country. During the first three months of the current fiscal year, only 83 projects had been proposed at the department. Those 83 projects are worth Rs 17 billion.
As per the department, most of the projects are related to hydropower and the hotel/restaurant sector.
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