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Nepal has received foreign investment commitments, totaling Rs 22.85bn, for 199 business ventures in the first four months of the fiscal year 2023/24.

According to the Department of Industry (DoI), foreign investors have pledged investments amounting to Rs 18.35m across 178 new industries. Additionally, commitments totaling Rs 3.72bn have been made for 21 existing industries.

In the fourth month (mid-Oct to mid-Nov) of 2023/24 alone, foreign investors expressed a commitment to invest Rs 2.74bn. This includes Rs 1.75bn earmarked for 27 new industries and Rs 56.3m dedicated to share purchase agreements (SPA) and share subscription agreements (SSSA) in two existing industries, according to the DoI.

However, the actual investments received by Nepal are notably lower. According to Nepal Rastra Bank (NRB), the central monetary authority, the country received foreign investments amounting to Rs 3.37bn in the first three months (mid-Sept to mid-Oct) of 2023/24.

In the first four months of 2022/23, Nepal attracted foreign investment commitments of Rs 33.14bn. The DoI approved 327 foreign investments during that period, promising the creation of 17,012 jobs. The commitment figure stood at Rs 54.14bn in the first four months of 2021/22.

The breakdown of foreign direct investments (FDIs) in the first four months of 2023/24 reveals commitments for 170 small industries, five medium-sized, and three large industries. The tourism sector received the highest investment commitment, followed by the service, manufacturing, ICT, and infrastructure sectors.

As of mid-July 2022, the total stock of FDI in Nepal reached Rs 264.33bn, as per the central bank, with contributions from 57 different countries.

However, the trend of repatriations by foreign investors from Nepal continues to outpace the FDI received. In the first four months of 2023/24, foreign investors repatriated Rs 748.67m as royalty and Rs 1.41bn as dividends. In the same period of the fiscal year 2022/23, foreign investors took home Rs 2.12bn in dividends and Rs 875.40m in royalty.

According to the central bank, foreign investors repatriated Rs 26.7bn as dividends in 2020/21.

The price of gold has dropped by Rs 200 per tola in the domestic market on Friday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 116, 300 per tola today. It was traded at Rs 116, 500 per tola on Thursday.

Meanwhile, tejabi gold is being traded at Rs 115, 750 per tola. It was traded at Rs 115, 950.

Similarly, the silver is being traded at Rs 1,450 per tola today.

Mustang district has witnessed an impressive number of tourists last month. Almost 80,000 tourists visited the mountainous district during the month of Kartik.

The number of domestic tourists is very high, thanks to the festive season.

According to the record of the District Police Office, a total of 5,504 international and 73,879 domestic tourists visited Mustang in Kartik.

The Annapurna Conservation Area Project (ACAP) offices at Jomsom and Lhomanthang keep the record of the international tourists visiting the district while the Ghasa Police Post and Lete Police Post maintain the record of the domestic tourists.

Deputy Superintendent of Police (DSP) of Mustang Bhojraj Pandey said that the district witnessed queues of tourists in the festivals of Dashain, Tihar and Chhath adding that almost 14,000 vehicles entered the district by carrying tourists in Mustang in a month.

Besides Beni-Jomsom route, the travelers arrived here from Pokhara-Jomsom air route too.

Hotelier Surendra Gauchan of Hotel Ranipauwa at Muktinath said tourist arrival remained exciting in Kartik month. "Tourists did not come as expected during the last year's festive season due to rain but this time the tourists preferred Mustang for their short trip due to better road network and clear weather," Gauchan argued.

Autumn is considered an appropriate time for Mustang visit.

With this impressive number of tourists in the district, the hoteliers and stakeholders here have expressed their satisfaction at the tourism bounce-back in Mustang.

Muktinath, Jomsom, Kagbeni, Lhomanthang, Marpha, Thini and Dhumba Lake are the key tourist and religious attractions for visitors in Mustang.

The Nepal Stock Exchange (NEPSE) gained 9.87 points to close at 1, 860.20 points on Thursday.

Similarly, the sensitive index surged by 2. 76 points to close at 356. 98 points.

A total of 4,420,518-unit shares of 292 companies were traded for Rs 1. 34 billion.

Meanwhile, Buddha Bhumi Nepal Hydropower Company Limited was the top gainer today, with its price surging by 9. 97 percent. Likewise, Nabil Bank Limited was the top loser as its price fell by 8.20 percent.

At the end of the day, total market capitalization stood at Rs 2. 86 trillion.