Foreign Investment on the rise in hospitality sector
5th Feb, 2018 | Tourism Mail Crew
KATHMANDU, Feb 05: Foreign investment in Nepal is seen to be on the rise in the hospitality sector. These days, tourists are attracted to foreign hotels and restaurants. During six months of the current financial year, 48 new hotels and restaurants have been proposed by foreign investment.
The Department of Industry has approved foreign investment in 50 projects of tourism sector among which 48 projects belong to hotels and restaurants. Most of the investments in Nepalese tourism sector are done for hospitality sector.
Foreigner industries are chiefly investing in small hotels, restaurants and coffee dreams in Nepal. There is the increase in the number of hotels and restaurants in the cities like Kathmandu, Pokhara and Lumbini. Most of the investors in hospitality sector are Chinese investors. Among the various proposals, around 22 of them are from China and rests are from other countries.
Multinational company Devyani internations is going to invest around 4 crore 90 lakh rupees to operate Kentucky Fried Chicken (KFC) branch in Kathmandu. For the first time KFC was operated in durbarmarg of Kathmandu and again the branch of KFC is going to be established in Labim Mall of Lalitpur which costs around 5 crore 15 lakh rupees.
Chinese investors have proposed to operate a restaurant by investing 15 million in Kathmandu. American citizen Syalpa Tenzing Rampoche has proposed to open hotel having 45 rooms in Kathmandu. The hotel will have a capacity of hundreds of seats. The hotel will invest Rs. 1.2 million. Chinese citizen Wang will invest 15 million in a hotel with 40 rooms and restaurant having 70 seats in Kathmandu.