The Investment Board of Nepal (IBN), chaired by Hon. Prime Minister Mr. K.P. Sharma Oli, 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 and assembly plant in Nepal. 

The South Korea-based company is mainly engaged in the manufacturing and distribution of automotive parts. The company’s products include audio-visual navigation (AVN), audio video (AV), around view monitor, head up display and rear seat entertainment (RSE). 

The South Korean company, motrex will assemble four-wheelers in Nepal.