103 Newly Registered Firms Pledge NPR 72.62 Billion Investment!

While the established industries are scrambling to reach their full production potential amid the pandemic, as many as 103 proposed firms have pledged to invest NPR 72.62 billion in the first half of the current FY 2021/22.

According to Nepal’s Department of Industry (DoI), the number of registrations for new business has stood at almost zero for four successive months after the Nepali Government imposed a nationwide lockdown.

The new business registrations, however, showed an upward trend between mid-July and mid-December.

Major Nepal investments are as follows:

• 23 firms in the service sector to invest NPR 6.51 billion
• 13 firms in the agribusiness to invest NPR 3 billion
• 13 firms in the energy sector to invest NPR 53.63 billion
• Five firms in the IT sector to invest NPR 650 million
• Infrastructure-related projects to invest NPR 1.57 billion
• Firms in the manufacturing sector to invest NPR 6.51 billion

These recent developments in new license requirements show a positive sign for the economic revival in the country.

A recent report by the Nepal Rastra Bank revealed that 91% of the companies had resumed their operations recently after the government implemented a flexible policy to encourage business amid the pandemic. While the firms’ production level has increased 2X times to 50.51%, the employment level has reached 87.51%, up from 77.50%.

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