Nepal has
received foreign direct investment worth Rs 113.18 billion for 2,787 companies till
date.
The
investment is expected to create 186,789 employments in the country.
Some 78
countries including India, China, South Korea and the US have invested in
Nepal, according to the Department of Industry.
In the last
fiscal year 2012-13, the FDI inflow stood at an all-time high of Rs 19.93
billion for 317 firms. The country had received Rs 7.14 billion worth
investment – in the fiscal year 2011-12 – for 227 companies. However, Nepal
received FDI commitment worth Rs 16.40 billion for 135 companies by the end of
seventh month of the current fiscal year.
The
hydropower sector is the major attraction for the foreign investors as the
sector received some Rs 10.94 billion investment commitment in the current
fiscal year.
Discussing
on measures to increase FDI inflow here today, secretary at the Prime Minister’s
Office and Council of Ministers Krishna Hari Banskota urged to help foreign
investors by simplifying the procedures of industry registration, company
registration, visa procedures and foreign exchange repatriation.
The meeting
that brainstormed on policy simplification to attract FDI, the participants
also suggested improvement in the behaviour of government officials and easing
visa procedures (business visa and non-resident visa) for foreign investors and
workers, apart from creating one-window policy to cut red tape in land
registration, environment impact assessment and issuance of labour permits.
The foreign
investors have to deal with three ministries – Industry, Home and Environment –
three departments – Industry, Immigration and Land Revenue – and the Company
Registrar’s Office.
Speaking at
the programme, industry secretary Krishna Gyawali said that timely amendments
to the Industrial Enterprise Act 2049 and the Foreign Investment and Technology
Transfer Act 2049 will help attract more foreign investment in the country.
Chief executive of Investment
Board Radhes Pant, on the occasion, informed that the board is currently
engaged with potential investors of various countries in a bid to attract FDI in
Nepal.
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