286 new industries registered in Nepal in first nine months of current FY, attracting Rs 165 billion investment

Published On: April 20, 2024 01:26 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, April 20: During the first nine months of the current Fiscal Year 2023/24, a total of 286 new industries have been registered, according to the Department of Industry.

These registrations occurred between Shrawan and Chaitra (mid-July to mid-April), with a notable increase in Chaitra where 36 large, 27 medium, and 223 small industries were registered.

This year's registrations have surpassed the department's expectations, which forecasted 80 large, 85 medium, and 200 small industries. A total proposed investment of Rs 165 billion has been recorded during this period, including Rs 10.59 billion in Chaitra alone, suggesting robust growth in industrial investments.

Furthermore, these new industries are estimated to create employment for 20,137 individuals. Among the registrations, 269 were foreign investment industries, contributing Rs 30.10 billion in proposed investments, including Rs 1 billion from registrations in Chaitra alone. These foreign investments are expected to employ an additional 13,834 people.

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