Nepal launches major push to become global IT hub
KATHMANDU, NEPAL — The Nepal Chamber of Commerce (NCC) recently launched a major initiative to attract investments in Nepal’s growing IT industry. Following a government ordinance aimed at simplifying investment procedures, the NCC is taking steps to establish Nepal as a competitive player in the global IT market.
Through its IT, Software, and Technology Committee, the NCC is working to promote entrepreneurship and secure international market access for Nepali IT businesses.
Kamlesh Kumar Agarwal, President of NCC, highlighted the economic potential of the sector, stating, “The IT industry is now a key source of foreign exchange for Nepal, and the government has set a target to generate NPR 3 trillion (US$21.6 billion) annually within the next decade.”
Public-private partnerships: A key to success
The NCC has emphasized the importance of public-private partnerships (PPP) in fostering IT development.
Rajendra Malla, Immediate Past President of NCC, proposed prioritizing PPP models to create companies that can leverage both public and private resources. He noted that collaboration with international firms could position Nepal as a hub for global IT operations.
Agarwal also emphasized the role of public investment in building the IT sector and pointed out that Nepal’s skilled yet cost-effective workforce makes it an attractive destination for global investors.
“[The] Chamber will play a role in policy facilitation to involve Nepali youth in the IT sector,” he added.
Collaboration and innovation drive forward
Bigyan Shrestha, Chairperson of NCC’s IT Committee, stressed that collaboration between the government and private sector is essential for unlocking the full potential of Nepal’s IT industry. He called for increased access to investment to transform young innovators’ ideas into reality.
The government’s commitment to digital transformation aligns with these efforts. Initiatives such as the National Cyber Security Policy 2024 and investments in digital infrastructure further bolster opportunities for growth in the sector. Additionally, platforms like Invest for Impact Nepal are creating an enabling environment for foreign direct investment (FDI) across industries, including IT.
With these strategic plans and collaborations, the NCC aims to propel Nepal’s IT industry onto the global stage while contributing significantly to national economic growth.
Read more here.
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