Kathmandu: The Industry Ministry announced Monday the ambitious goal of attracting foreign direct investment (FDI) of 241 billion U.S. dollars in the next 10 years.
Encouraged by investment pledge of 13.52 billion dollars from seven countries at the Nepal Investment Summit held in the first week of March, Nepalese Industry Minister Nabindra Raj Joshi said that Nepal would work toward attracting FDI of 10 billion dollars in the next fiscal year.
“We will grow the FDI every year to reach the target,” said the minister.
To reach the target, creating investment-friendly environment is one of the priorities taken by the ministry.
Despite ambitious FDI target, annual FDI commitment in Nepal has remained low. In fiscal year 2015-16, Nepal attracted 146 million dollars.