October 24: Foreign investors have pledged a total investment of Rs 150 billion in the first quarter of the current fiscal year, according to the quarterly report published by the Department of Industry (DoI).

The data of the department shows new industries with total investment of Rs 146 billion have been registered in the last three months. Until mid-October of the current fiscal year (FY 2021/22), altogether 26 large industries, 34 medium and 27 small industries with domestic investment of Rs 122 billion have been registered. In the same period, 107 foreign industries worth Rs 24 billion were also registered.

The data shows the number of registered industries has declined in recent years, while pledges of foreign investment have relatively increased.

In the first three months of the fiscal year 2017/18,  139 industries were registered with investment pledges of Rs 73.67 billion. In the first quarter of the current fiscal year, eighty seven industries have been registered with the investment pledges of Rs 122.18 billion.

In the fiscal year 2018/19, investment of Rs 68.35 billion was pledged for 175 industries while  an investment pledge of Rs 52.24 billion was made for 83 industries in the fiscal year 2019/20. And in the first quarter of 2020/21, fifty nine industries were registered with the investment pledge of Rs 62.37 billion.

Officials of the department said the investment-friendly environment created by the government is inviting more foreign investment. Gyanendra Parajuli, director of the department, said, "After COVID-19, the government has embraced liberal policy which is having positive impact on investment commitment."

The domestic and foreign industrial projects are expected to provide employment to 15,329 people, of which 8,134 will be employed by the domestic industry and 7,195 will be employed by the foreign industry.