The Department of Industry in Nepal has recently approved 10 foreign investment proposals, signaling a positive trend in foreign investment approvals in the country. This comes after the implementation of the automatic route, which has made it easier for foreign investors to enter the market.
A total of 26 proposals were received, with 16 investors showing interest in investing in Nepal. The approved investments amount to Rs 9.13 billion, indicating a growing confidence in Nepal’s investment climate.
In another development, the National Assembly’s Legislation Management Committee has endorsed the Safe Transactions First Amendment Bill-2080. This bill marks a significant shift in financial practices, allowing for a broader range of assets to serve as collateral in financial transactions.
Meanwhile, the Nepal Stock Exchange (NEPSE) experienced a marginal downturn despite a surge in company shares. The NEPSE settled at 1960.60 points, with robust transactions totaling NPR 2,054 crores. While some sectors saw an increase in share prices, others witnessed a decline.
On the infrastructure front, Prime Minister Pushpa Kamal Dahal ‘Prachanda’ initiated the breakthrough of the Sunkoshi-Marin Diversion Multi-purpose Project tunnel, which will play a crucial role in generating electricity. Additionally, the Ministry of Finance allocated extra funds for by-election costs in Ilam and Bajhang.
Overall, these developments indicate a positive outlook for Nepal’s economy and investment climate, with efforts being made to attract foreign investment and improve financial practices.