NCC to facilitate investment in IT industry expansion

KATHMANDU: Nepal Chamber of Commerce (NCC) is preparing to facilitate investment for the expansion of the IT industry. Following the government's facilitation of investment through an ordinance, the NCC has set a strategic goal to boost investment in the IT sector and the international market.

Through its IT, Software, and Technology Committee, the NCC will take the initiative to explore investment opportunities in the IT industry and foster goodwill. The NCC has also engaged in discussions with IT entrepreneurs to this end.

Speaking at an IT Industry Meetup recently, NCC President Kamlesh Kumar Agrawal highlighted the IT industry's significant potential for economic development and prosperity in Nepal. He stated, "The IT industry is now an important source of foreign exchange earnings in Nepal. The government has also set an action plan with a target of bringing in Rs 3 trillion annually over the next decade. The NCC will facilitate investment in the international market for the development of IT industry."

President Agrawal said the IT industry can be established by raising investment from the general public. He emphasised that Nepal’s relatively cheaper human resources present suitable opportunities for international IT industry. He also mentioned that the Chamber will play a role in facilitating policy-level involvement of Nepali youth in the IT sector.

NCC's Immediate Past President Rajendra Malla stressed the development of the industry through the establishment of a company based on public-private partnership (PPP) model. He pointed out that it is feasible to work from home as a backup for large international companies.

NCC's IT, Software, and Technology Committee Chair Bigyan Shrestha stressed the need for collaboration between the government and the private sector for the development and expansion of IT industry. He emphasised that increased access to investment is crucial to making the innovative ideas and thinking of the youth meaningful.