Economist Dr Swanim Wagle has underlined the need to focus on the expansion of technology for economic development.
Speaking at a consultation meeting with IT entrepreneurs on “Prospects and contribution of IT Service Export to Foreign Exchange Reserve in Nepal”, Wagle said every country in the world is focusing on the expansion and development of IT sector for economic development. “Every country is placing top priority to the IT sector. IT is not only becoming a top export but is becoming crucial to attract foreign direct investment,” he said, adding: “We, however, are still entangled with ginger, jute, cardamom and other products.”
We need to focus on IT along with increasing agricultural productions and exports, he added.
Nepal doesn’t have any scientific data on the size and expansion of the IT sector. To fill this gap, the Institute for Integrated Development Studies (IIDS), which Wagle leads, is conducting a study on Nepal’s IT sector. The study, among others, will find out the total investment made in the sector as well as the problems and challenges that this sector is facing. It will also give needful suggestions to policymakers for developing the IT sector.
Participating entrepreneurs point out a lack of necessary laws and policies, administrative hassles, and the problems in getting VAT refunds, among others, are some of the issues that they are facing.
