2.5 billion foreign investments received for 62 projects selected from Far-West

Dhangadhi: 2.5 billion foreign investments have beenreceived in various 62 projects selected from Far West. In the financial year2077/78, foreign investment in the province is 2 billion 496 million. InKailali, 19 projects have been proposed for foreign investment, and aninvestment of 1.98 billion has been received in those projects. Among the projects proposed for foreign investment, Kailalihas received the most investment. This shows that the foreign investmentenvironment in Far West is gradually improving.

The spokesperson of the Boardof Investment, Amrit Lamsal, said that foreign investment has also startedcoming to the provinces recently. He said that foreign investment has been promised inprojects with high potential including West Seti, Seti 6, and Khaptad in FarWest. According to the Board of Investments, foreign investment will be madeonly if there is a situation where returns can be obtained for a long period oftime.In those projects with a total cost of 4.80 billion rupees,2.496 billion rupees of FDI was proposed till the end of last year. This isabout 52 percent of the total cost of the project.A maximum number of 23 projects were proposed fromKanchanpur for foreign investment.

Similarly, 8 from Baitadi, 4 from Achham,3/3 from Darchula Dadeldhura, and 1/1 from Doti Bajhang have been proposed for atotal of 52 percent foreign investment, according to the economic survey.In the financial year 2078/79, the number of industries thatreceived foreign investment approval in the province is 50.

Although there ismore potential for foreign investment in the South-West in hydropower, herbs, and agriculture, it has not been done effectively. "Foreign investment isexpected to come in the projects we have proposed, but there is a lot of delayin starting the work," said Lamsal, the spokesperson of the Board ofInvestment.Even though it is a province with high economic potential,stakeholders say that the three levels of government have not been able tofocus on the potential of this region by calling for domestic and foreigninvestment.