August 23: Nepal has received foreign investment commitment of Rs 11.93 billion in the first month of the current fiscal year (FY 2023/24).

According to the Department of Industry, investors have made investment commitment for 60 projects.

According to the department, there has been more investment commitment for small scale industries in the review month. The choice of investors is the tourism sector. Most of the investment commitment is for tourism and service industries.

According to the department, 46 percent of the total investment commitment has been pledged for the tourism sector.

A total of 28 tourism industries have received approval for foreign investment. The service industry's share in the total commitment is 43 percent. Altogether 26 service-oriented industries have received approval for foreign investment.

In the past years too, most of the projects and investment commitments were seen in these two sectors. The third is the manufacturing industry. The share of investment commitment for the manufacturing industry is 7 percent.

Four productive industries have received approval for foreign investment while one industry each related to information and communication technology and agriculture sector have got approval for foreign investment. The share of these two sectors in the total investment commitment is 2 percent each.

According to the department, out of the 60 projects approved for investment, 54 are of small scale. The department informed that four medium and two small projects have been approved.