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FDI in Hospitality Business Increases Significantly

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FDI in Hospitality Business Increases Significantly
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November 10: With the Visit Nepal Year 2020 fast approaching, foreign investment in the hotel sector of Nepal has increased significantly, Rastriya Samachar Samiti (RSS) reported.

According to a report published by the Department of Industries (DOI), a total of 39 new tourism industries related to hospitality have been registered at the DOI in the first three months of the fiscal year 2019/2020.  The newly registered hotels and restaurants are reported to have been registered with foreign direct investment of Rs 5.77 billion.

According to the department, the investment in the hospitality sector this year has increased by 100 percent compared to the corresponding period of last year.

The state-run news agency reported that a total of 77 industries have been approved for FDI during the first three months of FY 2019/2020 out of which 39 belong to the tourism sector, 25 are service providers, seven are manufacturing industries, and six belong to information technology.   

According to DOI, the registered industries have received commitment for FDI of Rs 11.36 billion.

 The industries after coming into operation will create 4,292 employment opportunities.

 

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