Investments increase in service, tourism sectors
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KATHMANDU, SEP 05 -
The service sector and tourism have emerged as two major areas for investment for even small entrepreneurs.
This trend is reflected in a breakdown of registrations of cottage and small industries (CSIs) in Kathmandu in the last fiscal year. Of the total 2,831 CSIs registered in the capital in 2010-11, a whopping 76.22 percent were related to the service and tourism sectors.
According to the Department of Cottage and Small Industries (DoCSI), among the firms registered, 1,382 were related to the service sector, 790 with tourism and 617 with the manufacturing sector. The department registered 2,831 CSIs in 2010-11, up from 2,444 in the previous year. The firms have a combined proposed capital investment of Rs 4.2 billion and plan to offer jobs to 14,343 people, according to the DoCSI.
The government has categorised companies with a capital investment of up to Rs 30 million as small industry, and those based on traditional technology and locally available raw materials as cottage industry. The department registered 2,699 small industries and 132 cottage industries during the period.
DoCSI chief officer Tara Prasad Bhattarai attributed the growth in registrations to increased investment in mineral water, food packaging, travel agencies and contracting services. “Investments in the water business have swelled due to the water shortage in the capital,” said Bhattarai. The department registered 15 mineral water companies during the period. According to the DoCSI, 216 mineral water plants are operating in the capital alone. “Similarly, applications for food packaging and travel agencies are also increasing,” Bhattarai said.
As of now, a total of 25,022 cottage and small industries have been registered in the capital. About half of them are service-oriented industries, according to the DoCSI.
Posted on: 2011-09-05 09:37
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