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The information technology industry will be allowed to invest in foreign countries. Nepal Rastra Bank has opened the way for foreign investment in the information technology industry through the fourth amendment of Foreign Investment and Foreign Credit Management Regulations 2078.
"The maximum limit of foreign currency received by the information technology industry for investing abroad will be 50 percent of the average foreign currency earned by the industry by exporting information technology related services in the last three financial years or up to USD 10 million or equivalent foreign currency (the lesser of the two)," said the regulation. There was no such arrangement before.
According to the Prohibition of Investing Abroad Act, 2021, the Rastra Bank has also arranged that the exempted industries can get the necessary facilities of foreign currency from the Rastra Bank to invest abroad.
