The Investment Board of Nepal (IBN) has approved a proposal for foreign direct investment (FDI) worth Rs 10.54 billion from a South Korean firm, Motrex Co Ltd, for setting up a vehicle manufacturing & assembly plant in Nepal. The South Korea-based company is mainly engaged in the manufacturing & distribution of automotive parts. The company’s products include audio-visual navigation (AVN), audio video (AV), around view monitor, head up display & rear seat entertainment (RSE).
Maha Prasad Adhikari, CEO of IBN, told Republica the 35th meeting of the board decided to approve the project that will bring over Rs 10.54 billion in FDI for establishing a vehicle manufacturing & assembly plant. He said the South Korean company will assemble four-wheelers in Nepal. Watch full video to get the details here.