KATHMANDU, Nov 15: The government has removed the minimum threshold for the investments to be made by the Non Resident Nepalis (NRNs) by using investment companies.
Publishing a notice in Nepal Gazette on Tuesday, the Ministry of Industry, Commerce and Supplies (MoICS) stated that the provision of floor amount of investment will not be applicable for the NRNs who want to inject capital through the joint venture investment companies established in Nepal. According to the MoICS, the revised provision is expected to boost investment from NRNs.
The MoICS Secretary Toya Narayan Gyawali said the new rule could help attract NRNs also in the small and medium industries. “It could help expand economic activities through the mobilization of small capitals,” he said.
The government through the budget announcement on May 29 maintained the minimum threshold of foreign investment at Rs 20 million, reduced from the previous Rs 50 million.