COLOMBO, June 4: Sri Lanka is aiming to attract well over $1 billion in foreign direct investment this year, an official said on Friday, as the country wrestles with its worst financial crisis since independence in 1948.
KATHMANDU, Dec 9: Foreign Direct Investment (FDI) inflows have increased this year after the transmission of COVID-19 declined. According to the Department of Industry (DoI), foreigners have taken permission to invest around Rs 30 billion in Nepal in the first four and a half months of the current fiscal year.
KATHMANDU, August 19: The construction of the 216 MW Upper Trishuli-1 Hydropower Project has started. The project is being constructed in Rasuwa with foreign direct investment. The construction of the project started as soon as the work of the ‘ventilation tunnel’ used to go to the underground power house started on Tuesday. The first blast was made on Tuesday for the construction of a 246-meter ventilation tunnel.
KATHMANDU, March 14: Nepal received pledges for foreign direct investment (FDI) worth Rs 25.31 billion in the first seven months of the current fiscal year - a decline from Rs 28.46 billion during the same period in the last fiscal year.
KATHMANDU, Nov 27: A total of 32 companies operating under foreign direct investment have forwarded applications at the One-Stop Service Center under the Department of Industry seeking repatriation of the dividend amounts.
KATHMANDU, Nov 13: Nepal has seen less than half the pledged amount of foreign direct investment (FDI) materialize in each of the last five years. Data from the Department of Industry shows that Nepal received commitments for cumulative foreign investment of Rs 114.96 billion in the past five years.
The commonly accepted objective of foreign direct investment is to create conducive policy, regulatory and operational environment for attracting foreign owned companies or the multi-nationals to invest into the host country. The investment made in the productive sector of economy not only helps create job and employment opportunities through injection of foreign capital and technology but also helps in increasing productive capacity of the economy and improve balance of payment through increased export of goods and services.
Foreign Direct Investment (FDI) is an effective instrument for promoting sustainable development in Least Developed Countries (LDCs) like Nepal. Realizing this fact, the government of Nepal has organized three investment summits so far. First was in 1992 following the restoration of democracy. The investors attending the summit had pledged investment of approximately $100 million, but only around 25 percent of the pledged amount was realized.
Before and even after Nepal Investment Summit 2019, there have been debates for and against such investment promotion event. Some claimed this is not the right time to organize the event when investment-friendly environment is still elusive in the country. Others went to the extent of saying that it would be a mistake to go for such summit without evaluating the achievement of 2017 summit.
Nepal Investment Summit 2019, held in Kathmandu on 29-30 March, was so well attended that the Minister of Industry, Commerce and Supplies couldn’t even find a vacant seat in the opening session of the conference.
KATHMANDU, March 31: With a strong kick start to Investment Summit Nepal 2019, 615 delegates from over 40 countries provided a strong platform for dialogues and articulate discussions regarding Nepal's potential market.
Prime Minister K P Sharma Oli made all the right noises about Nepal’s need for foreign investment on the opening ceremony of Investment Summit on Friday. He presented the case of Nepal confidently, exuberating enthusiasm while addressing the delegates and the investors. The prime minister told the investors what actually they wanted to hear.
KATHMANDU, March 30: Investors at home and abroad attending the 3rd Nepal Investment Summit have sought full implementation of Nepal government's commitment to put procedural reforms and policies for investment security, while expressing their excitements over favourable environment created for investment in Nepal.
The government of Nepal has organized Nepal Investment Summit, only two years after holding a similar conference, with more than 600 delegates from foreign governments, multinational institutions and companies around the world. Government has showcased 77 projects with cost of US$ 33.6 billion, and the private sector has proposed 17 projects at $1.8 billion, making the conference price tag $36.4 billion.
KATHMANDU, March 13: As many as 17 lawmakers have proposed to reject foreign direct investment in primary sectors of agriculture like poultry, fishery, horticulture, animal husbandry, milk processing and beekeeping.
KATHMANDU, Jan 19: Finance Minister Yuba Raj Khatiwada on Friday held an internal meeting concerning the money laundering exposed by Nepal Leaks. The minister had a meeting with officials of all government units involved in money-laundering investigations, in the wake of the Nepal Leaks disclosure about 55 Nepalis stashing ill-gotten money in different offshore companies and foreign banks. Most of them have also brought the money into Nepal as foreign direct investment.
KATHMANDU, Jan 16: The International Consortium of Investigative Journalists (ICIJ) leaked the Panama Papers in 2017, exposing how a vast amount of dirty money hidden by offshore companies in tax haven countries is finding its way to various countries as Foreign Direct Investment (FDI).
KATHMANDU, Jan 16: Nepali business people set up companies in Nepal transfer their illegally earned money to offshore companies set up in tax haven countries and repatriate it to Nepal under foreign direct investment (FDI), a months-long investigation has revealed.
Even though China has remained favorite destination for investors for decades, India has pipped its neighbour in 2018 for the first time in the last 20 years in terms of foreign direct investment (FDI), changing the dynamics of attractive Asian market.
KATHMANDU, Sept 14: Executive Director of Nepal Electricity Authority (NEA) Kulman Ghising has said that preparations are ongoing to ensure quality power supply in the key government offices in the near future.