Three years after quake and blockade, Nepali hospitality industry attracts foreign investors again

Three years after quake and blockade, Nepali hospitality industry attracts foreign investors again

Three years after quake and blockade, Nepali hospitality industry attracts foreign investors again

Nepal government says  it has received three proposals to build big hotels in and around Kathmandu City, in which the three foreign groups have proposed to invest around Rs 1.5 billion in total.

Officials at the Department of Industry under the Ministry of Industry, Commerce and Supplies say this is the biggest pledge of investment in the hospitality sector after the industry collapsed in the 2015 earthquake and the border blockade the same year.

Khagendra Basnet, Chief at the Foreign Investment Division at the Department, informs that three investor groups including two Indian ones have approached him in past one month to establish hotels in Panauti of Kavre, Trishuli of Dhading and Kathmandu.

Each group has pledged to spend around half billion rupees for their individual project.

“We had the same attraction before the earthquake and blockade,” the official says, “Now, after three years, we can hope for more encouraging years in terms of foreign investment in the tourism sector.”

Basnet claims the hope for political stability after 2017 elections and some policy changes also contributed to the encouraging atmosphere.

Meanwhile, the Department says the status of investment proposals received for other sectors is also encouraging for last 10 months. In these months, the pledged amount has increased fourfold from the amount pledged in the same time period last year.

Energy has been the most attractive sector for foreign investors.

Source: Onlinekhabar

Please follow and like us:


Related Posts

Crackdown on contractors won’t stop despite Mahaseth’s assurance: Home Ministry 4 SHARES FacebookTwitterEmail Onlinekhabar L-R: Home Minister Ram Bahadur Thapa and Physical Infrastructure Minister Raghubir Mahaseth Kathmandu, June 18 The Ministry of Home Affairs says it will not stop the ongoing crackdown on underperforming and nonperforming contractors just because Minister for Physical Infrastructure and Transport Raghubir Mahaseth reportedly assured that no contractors would be arrested. Mahaseth allegedly told contractors that they could contact him if they faced any action from the Home authority so that he could protect them. But, Home Ministry’s spokesperson Ram Krishna Subedi says the ongoing action would not stop. Whereas Mahaseth has been claiming that the Home Ministry crossed its jurisdiction and entered his sector by launching the crackdown, the Home Ministry says the issue is directly associated with people’s safety and security. “Members of the public have told us that they have been facing problems, they are unsafe because of delay in infrastructure development,” Subedi says, “It is our responsibility to address people’s problems. We can take action to make concerned stakeholders responsible.” “It is not against any law. The administration has to solve people’s problems.” Published on June 18th, Monday, 2018 11:44 AM Download Onlinekhabar App. Android click here & IOS click here . Keep in touch with us on Facebook, Twitter & YouTube. Related News From the Kathmandu Press: Monday, June 18, 2018 Home Minister tells businesspersons to inform him about extortionists Victims want Sudheer Basnet arrested again, Home Minister assures justice Ministry of Home Affairs Ministry of Physical Infrastructure and Transport Raghubir Mahaseth Ram Bahadur Thapa No Comments Leave a Reply Your email address will not be published. Comment Name Email Website

leave a comment

Create Account

Log In Your Account