Nepal’s Minister for Industry, Commerce, and Supplies, Damodar Bhandari, has announced that foreign investors can now apply for investments of up to Rs 500 million in Nepal from abroad. Speaking at the 29th Partnership Summit, held in New Delhi, India, Bhandari emphasized that Nepal has introduced an automated online platform for pre-approval of foreign investment proposals, streamlining the application process.
The threshold for Foreign Direct Investment (FDI) has been reduced to Rs 20 million from Rs 50 million, with no minimum requirement for investments in the IT sector, he highlighted.
“We are focused on improving policies and legal frameworks to promote trade and facilitate investment in Nepal,” Bhandari said. He noted that a One-Stop Service Center (OSSC) has been established, bringing 14 agencies under one roof to simplify registration and offer comprehensive support to investors.
Bhandari assured attendees that foreign investments in Nepal are yielding attractive returns, bolstered by the country’s liberal and open market policies. These are further reinforced by Nepal’s commitments to multilateral, regional, and bilateral agreements.
Expressing optimism, Bhandari hoped the summit discussions would foster sustainable development, technology transfer, innovation, and economic prosperity. He extended an invitation to the global business community to partner with Nepal in leveraging new technologies and expertise to drive economic growth.
Highlighting Nepal’s significant investment potential, Bhandari pointed to opportunities in tourism, hydropower, agriculture, medicine, aromatic plants, IT, and manufacturing. He also mentioned that Nepal is now positioned to export electricity to neighboring India and Bangladesh under bilateral and trilateral agreements.
He reiterated Nepal’s priority to strengthen its historic and deep-rooted ties with India, which are characterized by shared history and cultural and economic interdependence.
Earlier in the session, India’s Minister of Commerce and Industry, Piyush Goyal, welcomed Minister Bhandari, underscoring the warm bilateral relations between the two nations.
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