Himal Press 
KATHMANDU: Foreign investment approvals increased to Rs 44.4 billion over the first 11 months of the current fiscal year.
According to the Department of Industry, foreign investment proposals worth Rs 3.01 billion for 52 ventures were approved in the month of Jestha (mid-May to mid-June) alone. These ventures have committed to creating 2,323 jobs.
Nepal has permitted foreign investment in 359 ventures so far in the current fiscal year. These ventures have expressed commitment to create 20,146 jobs.
Nepal hosted the 3rd Nepal Investment Summit in the last week of April to attract foreign investment. The summit seems to have given impetus to Nepal’s yearning for foreign investment.
Likewise, the department has okayed nine share purchase agreements (SPA) and share subscription agreements (SSA) worth Rs 461 million between mid-May and mid-June. With this, 52 firms have received SPA/SSA agreements to inject Rs 9.5 billion in the first 11 months of the current fiscal year.
According to the Department of Industry, 62% of foreign investment approvals in the month of Jestha are in the tourism sector, followed by 21% in the service sector, 11% in manufacturing and 2% each in the agriculture and minerals sector.
