Kathmandu, April 27: A memorandum of understanding regarding investment has been signed between the Nepal Investment Board (NIB) and the multinational company Dabur Nepal for the construction, operation and management of capacity building and product diversification projects under the private investment concept.
Deputy Secretary of the Board Raju Prasad Guragain informed that in an event held on Thursday at the office of the Board, in the presence of Minister of Industry, Commerce and Supply Ramesh Rizal, Chief Executive Officer of the Board, Sushil Bhatta, and Business Head Harkirat Singh Bedi signed the MoU on behalf of Dabur Nepal.
The investment was approved by the 49th meeting of the Board on February 8, 2022 for increasing the capacity of the industry and diversifying the production. According to the capacity increase project proposal submitted by Dabur Nepal, an additional investment of NRs 9.68 billion will be made. After the signing of the MoU, Bedi of Dabur Nepal said that he was happy to use some of the capital acquired in Nepal to expand the capacity of the industry and increase the capital.
The Chief Executive Officer of the Board, Bhatta, said that the new investment on behalf of Dabur Nepal has highlighted the investors’ confidence in Nepal and the great potential for business expansion.
Industry Minister Rizal mentioned that the investment of Dabur Nepal will send a big message to the investors and mentioned that the foreign investors who are interested in investing in Nepal can listen to those who are investing in Nepal and take a decision by looking at the business operations here.
