ZCZC
BCN-24
NEPAL-ECONOMY-INVESTMENT
Investment doubles in Nepal in 2017-18 fiscal
KATHMANDU, July 29, 2018 (BSS/Xinhua) – Industrial investment more than
doubled in Nepal in the last fiscal year 2017-18 that concluded in mid-July,
the Department of Industry (DoI) said on Saturday.
Investors registered 496 industries at the DoI with the committed
investment of 350.58 billion Nepali rupees (3.18 billion U.S. dollars) in the
last fiscal, DoI data showed.
In the previous fiscal year 2016-17, about 510 industries were registered
with planned capital investment of 163.15 billion Nepali rupees (1.48 billion
U.S. dollars). It means, planned capital investment by industries grew by 115
percent in the last fiscal year, the highest in the past 10 years.
Chandra Prasad Dhakal, vice-president of the Federation of Nepalese
Chambers of Commerce and Industry (FNCCI), the apex private sector body of
Nepal, told Xinhua on Saturday that the improved investment climate in Nepal
was contributed by three factors — political stability, improved electricity
availability, and largely peaceful labor-employer relations.
According to DoI, among the industries registered, the largest investment
was in energy-based industries, followed by the manufacturing sector.
BSS/XINHUA/HR/1455