China dominates Nepal foreign investment pledges at US$95m

China | 7 Nov 2019 12:42 pm

More than 90 percent of total foreign direct investment  commitments to Nepal came  from China during the first quarter of the current fiscal year 2019-20 that began in mid-July, Nepal's Department of Industry said, Xinhua reports.

China has been topping in FDI pledges to Nepal for the last four consecutive fiscal years.

Of total FDI pledges which stand at US$95 million, China alone pledged US$88 million, during the first quarter, according to the department. This represents nearly 93 percent of total foreign investments committed FDI, showing dominant position of China when it comes to FDI commitments to the Himalayan nation.

Britain came second with FDI pledge of US$1.85 million, followed by India with US$1.76 million in the third position. Bangladesh and Japan came fourth and fifth.

"China pledging over 90 percent of total pledged FDI reinforced China's status as dominant foreign investor in Nepal," Jeevan Prakas Sitaula, director general of the department, told Xinhua on yesterday.

He said he felt the growing Chinese investments in Nepal as most of foreign investors he met came from China.

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