Foreign investment of Rs 3,000 billion committed in six months: Minister Dr Khatiwada

Finance Minister Dr Yubaraj Khatiwada has said Nepal got the commitment of Rs 3,000 billion as foreign investment in the six months of the current fiscal year. The investment would be made in the industrial sector, he said while inaugurating the Birat Expo here Friday.

The Expo is the international exhibition of agricultural and industrial products, which continue for eight days. The liberal economic policy and favourable atmosphere would attract foreign investment, which would contribute to people’s aspiration for prosperity, he asserted.

According to him, 3,000 MW electricity would be produced in the Arun Valley in coming three years, for which, Rs 100 billion investment was brought in and commitment made of additional Rs 200 billion. The industrial sectors would reap huge benefits from it, he made it clear. The Minister further said government has no intention at all to discourage industrialists. He requested the industrialists to opt for new products in view of the demand from international markets.

Minister for State for Industry, Commerce and Supplies Motilal Dugad has shared that the government was successful to resume the export of palm oil to India. He said the incumbent government was committed to boosting national economy by bringing the private sectors in confidence.

Similarly, Internal Affairs Minister at State-1, Hikmat Karki, Minister for Industry, Tourism, Forest and Environment, Jagdish Kuswait, vowed to developing Biratanagar as of internationally standard exhibition centre in cooperation with federal government.

Industry Organization Chair of Morang Bhim Ghimire, federal lawmaker Aman Lal Modi, among others opined to develop the State as the industrial zone.

The exhibition has showcased 340 stalls of mechanical items from Nepal, India, Bhutan and Bangladesh. The organizer has expected the transaction of one billion rupees.