Kathmandu, December 2: Industry, Commerce and Supply Minister Damodar Bhandari has said that foreign investors can apply from abroad to invest up to Rs 500 million.
In the plenary session of the two-day 29th partnership summit organized by the Ministry of Commerce and Industry of India and the Confederation of Indian Industry, which started today in the capital of India, New Delhi, Minister Bhandari informed that foreign investors will automatically get pre-approval through the online system.
Similarly, Minister Bhandari informed that the FDI threshold has been reduced from Rs 5 crore to Rs 2 crore and there is no threshold for investment in the information technology sector. He said, “We have focused on improving the policy and legal aspects of doing business in Nepal. One Stop Service Center (OSSC) has been established by bringing 14 agencies under one roof to provide registration and facilities to investors.”
Minister Bhandari said that foreign investors who invest in Nepal are getting high rates of return with the profit of their investment and the ‘guarantee’ of their capital. He said, “Our commitment to multilateral, regional and bilateral trade agreements has made Nepal the most liberal and open market for international trade”.
Minister Bhandari expressed confidence that the discussions and deliberations held at the summit will pave the way for meaningful partnerships to advance sustainable development, innovation, technology transfer and prosperity. He said, “I invite businessmen and investors from around the world to explore potential areas to partner with us by bringing capital, new technologies and expertise to realize our common goal of economic prosperity.”
People’s News Monitoring Service.
Comments:
Leave a Reply