Himal Press 
KATHMANDU: Foreign direct investment (FDI) commitments to Nepal more than doubled in the first four months of the current fiscal year.
The latest data released by the Department of Industry (DoI) shows that Nepal received FDI commitments worth Rs 36.68 billion as of mid-November of the current fiscal year, which began in mid-July. Such commitments stood at Rs 18.66 billion in the same period of the previous fiscal year.
Foreign investors committed to invest Rs 1.54 billion in 71 projects in the month of Kartik (mid-October to mid-November) alone. FDI commitments came for 69 small-scale industries and two medium-scale industries during the review month. These projects have pledged to create 1,702 jobs.
The highest volume of commitments came in the first month of the fiscal year. In Shrawan (mid-July to mid-August), Nepal recorded investment pledges of Rs 24.10 billion. Commitments then slowed to Rs 8.94 billion in Bhadra (mid-August to mid-September) and Rs 2.45 billion in Ashwin (mid-September to mid-October).
According to the DoI, a total of 382 projects received FDI approval during the first four months of the current fiscal year.
Agriculture and forestry continued to attract the largest share of FDI commitments. The sector accounted for 60% of total commitments in the review period, totaling Rs 21.88 billion across 13 projects. Tourism followed with 24%, or Rs 8.94 billion, spread across 118 projects. Together, agriculture and tourism made up 84% of all FDI pledges.
The service sector accounted for 8% of commitments, or Rs 3.09 billion, for 23 projects, while manufacturing received 5%, or Rs 1.65 billion, for 21 projects.
In terms of the number of projects with FDI commitments, the information and communication technology (ICT) sector topped the list with 205 projects. The industry, however, drew only 2% of the total committed amount.
