Kathmandu. KATHMANDU: As many as 475 industries have shown commitment to bring in foreign investment in Nepal in the first five months of the current fiscal year 2082÷83. According to the Foreign Investment and Technology Transfer Section of the Department of Industry, a total of Rs 39.23 billion has been committed for foreign direct investment (FDI) from these industries in the period of mid-July to mid-January.

During this period, 475 FDI proposals have been approved through the automatic route and through the investment approval process. Among them, 314 projects have been forwarded through the approval process while 161 projects have been moved ahead through the automatic system.

Based on the committed investment, these projects are expected to generate employment for 20,122 people. It is expected to contribute positively to employment generation along with industrial expansion.

According to the Department of Industry, service, production, tourism and energy sectors are the major attractions for foreign investors. According to the Department, the commitment of foreign investment has increased in recent years due to the government’s investment-friendly policy, legal reforms and procedural simplification.