FDI commitment grows up in Nepal
Friday, 10 August 2007
KATHMANDU, Aug. 9 (Xinhua): Despite political breakthrough and steps toward restoring peace, foreign direct investment (FDI) commitment grew by a meager 313 million Nepali rupees (some 4.8 million US dollars) over the fiscal year in 2006/07 ended in mid- July.
According to The Kathmandu Post Thursday's report, in per centage term, the growth was 12 per cent and the total FDI commitment for the year touched 2.91 billion rupees (44.76 million dollars), shows a report of Department of Industry (DoI).
The report shows that 184 FDI projects including 40 service sector industries were registered with DoI during the year. In 2005/06, FDI commitment of 2.60 million rupees (some 40,000 dollars) was received through 116 industries.
The total project cost and total fixed cost of the FDI projects registered in the last fiscal year stood at 2.99 billion rupees ( 46 million dollars) and 2.35 billion rupees (some 36 million dollars) respectively, and once operational, those are said to create employment opportunities for 7,150 persons.
As usual, the country received the maximum FDI in the manufacturing industry. The FDI commitment in the industry totaled 1.50 billion rupees (some 23 million dollars).
However, in terms of the number of industries, service industry attracted the maximum number of investors. A total of 86 foreign investment industries were registered under the service sector during the year. Their FDI commitments totaled 1.06 billion rupees (some 16 million dollars).
Likewise, the tourism sector attracted 55 foreign investment projects with FDI commitment of 267 million rupees (4.1 million dollars). After a gap of some five years, the DoI also received a FDI commitment worth 5 million rupees (76,923 dollars) for the agriculture industry as well.
The DoI registered four foreign investment projects under textile and ready- made garment industry. If implemented, those would pump in 61.20 million rupees (941,538 dollars) worth of fresh investment into the industry, said the official.
The report shows that Nepal received foreign investment commitments from 32 countries during the year. Bulkiest, as usual, came from India, with its FDI commitment standing at 1.74 billion rupees (26.76 million dollars).
China jumped up the ladder and occupied the position of the second largest FDI generating country for Nepal. Over the past one year, Nepal received a total of 37 Chinese investment projects with FDI commitment of over 494 million rupees (7.6 million dollars).
According to The Kathmandu Post Thursday's report, in per centage term, the growth was 12 per cent and the total FDI commitment for the year touched 2.91 billion rupees (44.76 million dollars), shows a report of Department of Industry (DoI).
The report shows that 184 FDI projects including 40 service sector industries were registered with DoI during the year. In 2005/06, FDI commitment of 2.60 million rupees (some 40,000 dollars) was received through 116 industries.
The total project cost and total fixed cost of the FDI projects registered in the last fiscal year stood at 2.99 billion rupees ( 46 million dollars) and 2.35 billion rupees (some 36 million dollars) respectively, and once operational, those are said to create employment opportunities for 7,150 persons.
As usual, the country received the maximum FDI in the manufacturing industry. The FDI commitment in the industry totaled 1.50 billion rupees (some 23 million dollars).
However, in terms of the number of industries, service industry attracted the maximum number of investors. A total of 86 foreign investment industries were registered under the service sector during the year. Their FDI commitments totaled 1.06 billion rupees (some 16 million dollars).
Likewise, the tourism sector attracted 55 foreign investment projects with FDI commitment of 267 million rupees (4.1 million dollars). After a gap of some five years, the DoI also received a FDI commitment worth 5 million rupees (76,923 dollars) for the agriculture industry as well.
The DoI registered four foreign investment projects under textile and ready- made garment industry. If implemented, those would pump in 61.20 million rupees (941,538 dollars) worth of fresh investment into the industry, said the official.
The report shows that Nepal received foreign investment commitments from 32 countries during the year. Bulkiest, as usual, came from India, with its FDI commitment standing at 1.74 billion rupees (26.76 million dollars).
China jumped up the ladder and occupied the position of the second largest FDI generating country for Nepal. Over the past one year, Nepal received a total of 37 Chinese investment projects with FDI commitment of over 494 million rupees (7.6 million dollars).