FDI cos’ registration up the ladder by 21pc
Registrations of companies with foreign investment rose 21 percent during the first eight months of the fiscal year compared to the same period last year.
According to the Department of Industry (DoI), 125 companies were registered during the review period mid-July to mid-March compared to 103 previously. These companies have a combined investment of Rs 3 billion. Among the newly registered companies, 106 are in the small industry category, 10 medium and nine large. Eleven of the companies are related to agriculture, 28 manufacturing, three energy including hydroelectricity and 83 are from the service sector including tourism.
These companies have planned to provide jobs to 5,731 people. The major investors are from India followed by China, Japan, the US and Denmark.
DoI director general Dhundi Raj Pokharel attributed the growth in registrations to a decline in political protests and strikes in recent days. “The current Industrial Policy 2010 has also attracted more foreign investors.”
According to the Industrial Policy 2010, companies employing more than 100, 200 and 600 people can get a rebate of up to 25 percent on income tax. Similarly, the policy has identified information technology, cement, hydropower and adventure tourism as high priority industries.
Out of the 258 industrial companies with foreign capital registered in 2009-10, only 171 received operating licenses. Many of them were related to manufacturing, tourism and service related businesses. As of the fiscal year 2009-10, a total of 1,898 companies based in 56 districts have received operating licenses. They are providing employment to 144,513 people.
Posted on: 2011-03-23 09:15
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