KATHMANDU: The government has decided to open avenues for Nepalese investors to invest abroad.

Presenting the budget for the upcoming fiscal year, Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel announced that businessmen and investors will be allowed to invest up to 25 percent of their total exports overseas.

According to him, permission for such foreign investments will be granted by the Nepal Investment Board.

Minister Paudel stated, “Businessmen/investors will be permitted to invest up to 25 percent of their total exports abroad. The Nepal Investment Board will provide the necessary approval.”

The budget also includes a provision to reduce industrial rent by 50 percent, aiming to support industrial growth. Regulations will be put in place to manage the extraction and export of mineral products to ensure sustainable practices.

Additionally, the budget allocates Rs 730 million for a program offering concessional loans to startups to boost entrepreneurship and innovation. Through the Deposit and Credit Protection Program, savings of up to Rs 500,000 per saver in cooperatives will be secured to protect depositors.

Furthermore, Minister Paudel mentioned plans to establish land banks and alternative financial funds in 100 local levels next fiscal year to facilitate the development of Nijgadh as a major economic hub.