The Nepal Chamber of Commerce (NCC) has unveiled plans to boost investment in Nepal’s IT industry. Following the government’s ordinance to simplify investment in the sector, the NCC has outlined strategies to encourage investments and enhance access to international markets, according to a statement released on Friday.
Through its IT, Software, and Technology Committee, the NCC aims to attract investments and foster entrepreneurship within the IT sector. Discussions with IT entrepreneurs have already commenced to advance these initiatives. NCC President Kamlesh Kumar Agarwal emphasized the IT industry’s potential to drive economic growth and prosperity in Nepal, making it a key focus area for investment facilitation.
“The IT industry is emerging as a vital source of foreign exchange for Nepal. The government has set an ambitious goal to generate Rs. 3 trillion annually from the sector within the next decade. The Chamber will actively work to secure investments and improve international market access to achieve this,” said Agarwal.
He also highlighted the potential for public investment in developing the IT sector. According to Agarwal, Nepal’s relatively low cost of skilled labor compared to global standards creates a promising opportunity for growth. “The Chamber will advocate for policies that engage Nepali youth in the IT industry,” he added.
Rajendra Malla, Immediate Past President of the NCC, suggested prioritizing public-private partnership (PPP) models to support the IT sector’s development. He noted that with international collaboration, Nepal could become a hub for global IT operations.
Bigyan Shrestha, Chairperson of the IT Committee, underscored the need for government-private sector collaboration to expand the industry. He stressed the importance of increasing access to investment to transform young innovators’ ideas into tangible outcomes.
