KATHMANDU, June 1 (Xinhua) -- Nepal's central bank has allowed foreign investors involved in developing the highly prioritized projects in Nepal to capitalize their expenses at home country for Nepal-based projects as Foreign Direct Investment (FDI).
Foreign investors which spend their money at home for the tasks such as feasibility study, geological survey and designs of Nepal-based projects without opening their offices in Nepal, can enjoy such facility, Nepal Rastra Bank (NRB), central bank of the Himalayan country, said in a notice.
Bhisma Raj Dhungana, executive director at the NRB, told Xinhua on Wednesday that the central bank took such a decision to remove practical difficulties for the foreign investors. "Investment Board, Nepal (IBN) which deals with foreign investors for big projects had been requesting us for such facility to foreign investors," he said.
But the NRB has put forward certain conditions for enjoying the facility.
By issuing a notice last week, the central bank stated that foreign investors which are developing the projects categorized as National Pride Project, the highly prioritized ones in Nepal or the ones approved by the IBN, can enjoy this facility.
