British investors urged to invest in Nepal's IT sector

British investors and Nepali officials called for more investment in the information technology (IT) sector and greater exchange of knowledge in this realm.

In an event themed 'Prospects of Nepal as an Emerging Tech Hub' organized by the Nepali Embassy in London, the UK recently, the participants agreed that the foundation for the development of IT had been laid in Nepal. Thus, more investment was sought in this sector to develop Nepal as a Tech Hub.

Speaking in the event, Nepali Ambassador to the UK Gyanchandra Acharya said that the number of educated people, youths and hardworking people was increasing in Nepal and Nepal was poised to take a leap in the social and economic sector.

According to him, the government was willing to collaborate with tech experts, private sector and international organizations to develop Nepal as a Tech Hub.

Towards this, he urged the British investors to consider an investment in Nepal.

Similarly, Anil Kumar Dutta, Joint-Secretary at the Ministry of Communications and Information Technology said that Nepal had made a huge stride in the IT sector within a decade.

He informed that the government of Nepal was working for the development of legal mechanism and physical infrastructure to promote IT sector.

Dutta reminded that the government approved Digital Nepal Framework in 2019 and enforced it to create knowledge-based society and to lay foundation for the digital economy thereby facilitating the citizens to render public services digitally.

Similarly, Tim Gochar, CEO of Dolma Impact Fund, shared that his company adequately received cooperation from the government and private sector while investing in Nepal.

According to him, his company was considering investment in hydro power projects and health sectors besides IT. Heaping praises on the Nepali youths, he commended that the Nepal youths were skilled, hardworking and friendly.

Likewise, MBI MBO Limited's President Bryan Duffy argued that people and culture were important component for development of any nation and admitted that he was very much impressed by the honesty and hardworking nature of the Nepalis. He urged the government of Nepal to prioritize development of IT sector in Nepal.

Genese Solution's founder Anjani Phuyal informed that around 70,000 youths were graduating in science, technology, engineering and mathematics (STEM) in Bachelor's level from various colleges and universities in Nepal annually.

Stating that Nepalis were outsourcing to major companies in the world from Nepal, he suggested the government to introduce policies and programmes to develop Nepal as a Tech Hub.

"There are tremendous opportunities in Nepal. To tap them, the minimum limit for foreign investment should be lowered, IT education should be promoted and easy visa procedure should be placed for skilled foreigners who want to work in IT sector in Nepal," he recommended.