Number of firms getting registered increases by over 4 percent

KATHMANDU, JULY 30: The number of firms getting registered at the Department of Industry (DoI) has increased by 4.2 percent in the last fiscal year.   The government registered a total of 322 firms during the review period. They will have an investment of Rs 214 million by both domestic and foreign parties.

The companies are estimated to offer employment opportunities to 23,324 individuals. Of them, 66 are large-scale, 70 medium-sized, and 186 are small-scale.

As per the Industrial Enterprises Act 2020, businesses with fixed capital of up to Rs 150 million are categorized as small firms. Likewise, the firms having a capital investment of Rs 150-500 million are termed as medium, and those with a capital investment of more than Rs 500 million fall under the category of large firms.

The number of companies acquiring permission for the preliminary environmental assessment stands at 82. Likewise, 404 producers approved value addition in their products to claim for export subsidies.

A total of 150 companies were taken again for violating the rule of intellectual property rights last year. During the review period, the government body registered 3,254 new trademarks, 18 designs, and five patent rights.