FDI reached Rs 115 billion in 2016

Kathmandu, December 16

Foreign direct investment reached Rs 115 billion with 2,959 projects generating employment for 192,851 persons in 2016, according to annual report 2016/17 published by the Ministry of Foreign Affairs.

Top FDI sources were India (Rs 44.04 billion), China (Rs 17.97 billion), South Korea (Rs 8.62 billion) followed by USA (Rs 5.26 billion). According to the report, with a view to attracting foreign investment in Nepal, diplomatic missions abroad organised various programmes in 2016 highlighting investment opportunities in Nepal. They also organised interactions with potential investors in respective countries.

Nepali Missions abroad conducted various investment promotion programmes. A total of 15 programmes were organised by the Missions with 14.9 per cent budget of development diplomacy spent, it said. Nepali Missions in Beijing, Geneva, London, New Delhi and Ottawa hosted investment seminars. These programmes aimed at promoting Nepal as an attractive investment destination.

About 3000 potential investors participated in these programmes. Nepali Missions in Bangkok, Berlin, Brasilia, Canberra, Hong Kong, Kolkata, Moscow, Seoul, Tokyo and Washington DC held investment promotion programmes with an aim to promote foreign direct investment in Nepal, disseminating investment related information of various sectors of Nepali economy. More than 5000 foreign investors, non-resident Nepali and business persons took part in these programmes.

The MoFA and Nepali Missions abroad facilitated the foreign diplomatic missions and international organisations in Kathmandu and overseas foreign investors in their participation in the Nepal Investment Summit organised jointly by the Ministry of Industry and Investment Board of Nepal, under the theme ‘Harnessing Investment Opportunities in Nepal’ on March 2-3.

In that summit, foreign investors expressed their investment intent worth US$ 13.52 billion in various sectors including aviation, hydropower, banking, railways, roads, mining and minerals, and manufacturing. A total of 16 companies from around the world signed Letters of Intent, according to the report.

In 2015/16, Nepal received US$ 1,074.06 million as Official Development Assistance.