Nepal foreign investment
Nepal Initiates First Sovereign Credit Rating Process with Fitch Ratings
Nepal has embarked on securing its inaugural sovereign credit rating, with Fitch Ratings spearheading the effort. A Fitch Ratings team is currently on-site, conducting evaluations and engaging with key government entities, including the Ministry of Finance and Nepal Rastra Bank, as well as private sector companies, to gauge the nation’s economic position. Obtaining this credit […]
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NCC’s Bold Vision: Rs. 1,000 Billion Export Target
The Nepal Chamber of Commerce (NCC), under the leadership of its newly elected President, Kamlesh Agrawal, has formulated an ambitious plan to propel the country’s annual export capacity to an unprecedented Rs. 1,000 billion. This bold initiative, outlined in the NCC’s export promotion action plan, aims to catalyze export growth and reduce the nation’s trade […]
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Nepal’s Foreign Exchange Reserves Surge by 24.2% to New Heights
Nepal’s foreign exchange reserves have witnessed a remarkable surge, according to the latest data released by the Nepal Rastra Bank (NRB). In mid-April 2024, the gross foreign exchange reserves soared by an impressive 24.2 percent, reaching a staggering Rs. 1911.86 billion, a significant increase from the Rs. 1539.36 billion recorded in mid-July 2023. In US […]
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EU Pledges Support for Boosting Investment in Nepal
The European Union (EU) has reaffirmed its commitment to supporting Nepal in attracting foreign investment, with a particular focus on bringing European companies to the Nepali market. During a reception held on Thursday to commemorate the 50th anniversary of diplomatic relations between Nepal and the EU, Ambassador Veronique Lorenzo highlighted the upcoming ‘EU-Nepal Trade Forum’ […]
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Hyundai Assembly Plant Inaugurated in Nepal
Nepal’s Prime Minister Pushpa Kamal Dahal ‘Prachanda’ has reaffirmed the government’s commitment to fostering an investment-friendly environment, driving economic transformation, and bolstering the country’s industrial sector. During the inauguration of the Hyundai Motor Assembling Plant of Laxmi Motor Corporation in Nawalparasi, PM Prachanda emphasized the pivotal role of the private sector in propelling Nepal’s journey […]
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Private Sector Calls for Increased Capital Expenditure to Boost Economic Growth
As Nepal gears up for the presentation of the annual budget for the fiscal year 2024-25 on May 28, the country’s private sector has been counting on the government to target a larger capital expenditure outlay to support higher economic growth amid the ongoing economic slowdown. In a pre-budget discussion organized by the Society of […]
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First MCC construction contract awarded – Butwal Substation Deal Signed
In a significant stride towards bolstering Nepal’s energy infrastructure and facilitating cross-border energy trade, the Millennium Challenge Account-Nepal (MCA-Nepal) has inked a contract agreement for the construction of the New Butwal Substation. This pivotal project is being funded through a grant from the US Mission Millennium Challenge Corporation (MCC), marking the first construction contract under […]
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Tax Reforms and Economic Growth: Finance Minister’s Assurance
Nepal’s Finance Minister Emphasizes Need-Based Tax Reforms Kathmandu, May 5: In a significant move to promote economic growth and address industry concerns, Finance Minister Barsha Man Pun has assured that the tax rates for the upcoming fiscal year will be revised based on need and relevance. Speaking during a meeting with youth industrialists and IT […]
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Tax Reforms and Economic Growth: Finance Minister’s Assurance
Nepal’s Finance Minister Emphasizes Need-Based Tax Reforms Kathmandu, May 5: In a significant move to promote economic growth and address industry concerns, Finance Minister Barsha Man Pun has assured that the tax rates for the upcoming fiscal year will be revised based on need and relevance. Speaking during a meeting with youth industrialists and IT […]
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