Business Standard

Nepal govt reduces threshold for foreign investments by 60% to 20 mn NPR

The minimum threshold for foreign direct investment (FDI) will be brought down to 20 million NPR ($160,760) from the existing 50 million NPR

Photo: Unsplash

IANS Kathmandu
The Nepal government announced that it would reduce by 60 per cent the minimum amount for foreigners to invest in the Himalayan nation.
Presenting the annual budget for the 2022-23 fiscal year that begins in mid-July to the House of Representatives, Finance Minister Janardan Sharma said the minimum threshold for foreign direct investment (FDI) will be brought down to 20 million NPR ($160,760) from the existing 50 million MPR, reports Xinhua news agency
He noted that the move aimed to attract more FDI to the country.
In May 2019, the government increased the threshold by 10 times from 5 million MPR on the grounds that the concentration of foreign investments in small businesses was affecting those in Nepal.
Pashupati Murarka, former president of the Federation of Nepalese Chambers of Commerce and Industry, told Xinhua that the government's move could help attract more foreign investments in the country, even in small- and medium-sized enterprises.
--IANS
ksk/
 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 30 2022 | 2:36 PM IST

Explore News