Kathmandu, April 27
The Office of the Investment Board, Nepal (IBN) has signed a memorandum of understanding (MoU) with Dabur Nepal Pvt Ltd today for capacity enhancement and capital increment through reinvestment The MoU was signed by the IBN CEO Sushil Bhatta and Business Head of Dabur Nepal Harkirat Singh Bedi in the presence of Minister for Industry, Commerce and Supplies Ramesh Rijal.
During its 49th meeting on February 8, 2022, the IBN had approved an investment plan aimed at expanding industrial capacity and diversifying production. Dabur Nepal had presented a proposal for the Capacity Enhancement and Diversification Project, which was subsequently approved, paving the way for an additional investment of Rs 9.68 billion.
Following the signing of the MoU today, Bedi expressed his satisfaction at the opportunity to invest a portion of the company's earnings back into Nepal to promote capacity expansion and overall growth of the industry.
Likewise, IBN CEO Bhatts emphasised that Dabur Nepal's reinvestment in the country signifies the investors' confidence, trust, and commitment towards expanding their business in Nepal.
Addressing the event, Minister Rijal opined that Dabur Nepal's reinvestment in the country sends a powerful message to foreign investors.
A version of this article appears in the print on April 28, 2023, of The Himalayan Times.
