Nepali gov't decides to open agriculture sector for FDI with

Nepali gov't decides to open agriculture sector for FDI with certain restrictions, official says - World News


2021-01-01 13:35:22 GMT2021-01-01 21:35:22(Beijing Time) Xinhua English
KATHMANDU, Jan. 1 (Xinhua) -- The Nepali government has decided to allow foreign direct investment (FDI) in the primary agriculture production with certain restrictions, an official of Nepal's Ministry of Industry, Commerce and Supply said.
Nepal's Foreign Investment and Technology Transfer Act 2019 has barred FDI in the areas of poultry farming, fisheries, bee-keeping, fruits, vegetables, oil seeds, pulse seeds, milk industry and other sectors of primary agro-production.
"The cabinet in late December decided to open the currently banned sectors of primary agriculture production for foreign investments with condition that at least 75 percent of products produced by them should be exported," Narayan Prasad Regmi, spokesperson at the Nepal's Ministry of Industry, Commerce and Supply told Xinhua on Friday.

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