Kathmandu, July 30, 2018: The fiscal year concluded in mid-July with doubled investment from industries. The Department of Industry (DoI) published the detailed data for the fiscal year 2017-18 on Saturday.
The data mentioned that 496 new industries were registered by the investors at the DoI committing the investment of NRs. 350.58 billion which is U.S. $3.18 billion last fiscal year.
Looking at the previous data for the fiscal year 2016-17, the registration of 510 industries was planned with the total investment of NRs. 163.15 billion (U.S. $1.48 billions). This shows that the growing percentage of the investment in the industry department has increased by 115% within a year. It is the highest increment in the past decade.
Federation of Nepalese Chambers of Commerce and Industry (FNCCI) is an apex private sector body of Nepal. The vice president of FNCCI Chandra Prasad Dhakal told that the increment of the investment rate is influenced by the factors: Political stability, Availability of Electricity and Labour-Employer peaceful and smooth relations.
The largest investment among the industries of this fiscal year was in energy based industries and then was in the manufacturing industries according to the DoI data.