Foreign Direct Investment (FDI) in Nepal last fiscal year (ending mid-July) was down by about 39 percent to Rs 1.2 billion from the Rs 3.1 billion in the same year-earlier period. The Department of Industry approved 77 FDI ventures in fiscal 2001/02, compared with the 97 ventures approved the previous year. The total project cost of the approved investments was Rs 3.31 billion, of which 21 were ventures with Indian partners and 12 had Chinese investors. The number of projects with foreign investment-mainly Indian-stood at 767 in 2001/02, and brought in Rs 20.8 billion rupees.