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Foreign investment in information and technology fell 58 percent, the highest commitment from China

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Foreign investment in information and technology fell 58 percent, the highest commitment from China

Commitment of foreign investment in the country’s information and communication technology sector has declined. Compared to the previous year, the commitment of foreign investment in this sector has decreased by 58 percent in the last fiscal year.

According to the data of the Department of Industry, the body that attracts foreign investment, for the last fiscal year 2077/78, an investment of Rs. 3 billion has been committed in the information and communication technology sector.

In that year, an investment of Rs. 2.95 billion has been committed in 15 projects. It is also mentioned that 570 people will get employment in the project.

This is much less than the previous year 2076/77. In that year, an investment commitment of Rs. 7.81 billion was made. By investing in 37 projects that year, it has committed to provide employment to 2,808 people.

In this regard, the commitment of foreign investment in the information and communication technology sector has decreased by Rs. 4.126 billion or 58 percent in the last fiscal year.

Overall, the country has committed to invest Rs. 32.28 billion in the last fiscal year. It is mentioned that 5,833 people will get employment with the commitment to invest in 183 projects.

The highest investment commitment that year came in the tourism industry. More than Rs. 18.31 billion has been committed in this sector.

Overall, foreign investment commitment has also declined. In the previous year, foreign investment of Rs. 37.80 billion was committed.

The highest investment commitment came from China

China has the largest investment commitment in the information and technology sector. China has committed to invest Rs 1.15 billion in 11 projects. It is mentioned that 536 people will get employment in these 11 projects.

An investment of Rs 1.65 billion has been committed from Singapore. Qatar is another country committed to investing in this sector. Qatar has committed to invest Rs 50 million in one project.

The United Kingdom and the United States have also committed to investing in information and communication technology. The United Kingdom and the United States have committed to invest Rs 50 million and Rs 55.13 million in one project respectively.

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Rabins Sharma Lamichhane

Rabins Sharma Lamichhane is the owner of RabinsXP who is constantly working for increasing the Internet of Things (IoT) in Nepal. He also builds android apps and crafts beautiful websites. He is also working with various social services. The main aim of Lamichhane is to digitally empower the citizens of Nepal and make the world spiritually sound better both in terms of technology and personal development. Rabins is also the first initiator of Digital Nepal.

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