KATHMANDU, APRIL 29
Investments totaling Rs 9.13 billion have been approved for four different projects through the Department of Industry during the 3rd Nepal Investment Summit 2024.
The breakdown includes Rs 6 billion for establishing an investment company in Bhaktapur, Rs 3 billion for a business complex building in Kathmandu, Rs 76.6 million for a 200 KW hydropower project in Kailali, and Rs 62.5 million for the construction of hotels and restaurants in Lalitpur district.
This information was provided by Shankar Singh Dhami, Director of the Foreign Investment and Technology Transfer Unit under the Department of Industry.
Today, the department inaugurated the system for foreign investment approval through the automatic route. Foreign investors can now apply for establishing a new company with 100 percent share ownership, joint venture, or investment capital in an already operating company through this route.
They will receive the letter of approval of foreign investment as soon as they submit their application. No minimum investment limit has been specified for approving foreign investment through the automatic route for information technology-based industries.
This system is expected to save investors time and money required for making investments in Nepal.
