We use Google Cloud Translation Services. Google requires we provide the following disclaimer relating to use of this service:
This service may contain translations powered by Google. Google disclaims all warranties related to the translations, expressed or implied, including any warranties of accuracy, reliability, and any implied warranties of merchantability, fitness for a particular purpose, and noninfringement.
During the third investment conference, an investment worth 9 billion 130 million has been approved for four different projects through the Department of Industry.
According to Shankar Singh Dhami, director of the foreign investment and technology transfer branch under the Department of Industry, six billion for the establishment of an investment company in Bhaktapur, three billion for the construction of a commercial building in Kathmandu, 85 percent of Ekelus Energy Limited of the United Kingdom and 15 percent of the Mohanyal Rural Municipality of Kailali, a 200 kilowatt capacity hydropower project. 7.66 million worth of investment has been approved for construction and 6.25 million worth of hotel and restaurant construction in Lalitpur district.
department today inaugurated the system of foreign investment approval through automatic route. According to the first amendment of the Foreign Investment and Technology Transfer Regulations, 2077, which was published on the 7th of May 2017, for the government to approve foreign investment through the automatic route, a foreign investor who has established a new company with 100% share ownership or joint venture or is operating under foreign investment shall invest capital in such a company. The system of submitting and approving the application for investment for growth through automatic route is maintained.
In view of the third investment conference, the Department of Industry has prepared an electronic system for approving foreign investment through automatic channels. Foreign investors will be able to apply through the system from today and receive the letter of approval of foreign investment as soon as they submit their application.
For information technology-based industries, the minimum investment limit has not been applied when foreign investment is approved through the automatic route. When foreign investment is approved through this automatic route, it is expected that investors' time and expenses will be saved and the investment environment will increase.
