Kathmandu, March 29 : The government has called on foreign investors to confidently invest in Nepal’s information and technology sector as Nepal expects their support in realising the ‘Digital Nepal Project.’
The government has assured of full safety of possible investment, citing that the atmosphere for investment in the IT sector has been created by endorsing necessary laws.
During the opening day of the ‘Nepal Investment Summit- 2019′, the Ministry of Communications and Information Technology informed the gathering of the latest situation of IT in Nepal; made this call before domestic and foreign business community and investors. The Ministry was utilizing the IT- related session in the Summit.
Minister for Communications and Information Technology Banskota briefed the session that a draft of IT policy had been already prepared and it was on the process of further progress while other related laws were formulated. It may be noted that the government had, targeting the Summit, already enacted the Public Private Partnership and Investment Act’, Foreign Investment and Technology Transfer Act, and revised the Special Economic Zone Act.
On the occasion, the Minister said Nepal had made the digital connectivity better, and lately, the use of internet and IT was on the rise and the 4G service had been launched. Nepal was working for cyber governance and the project is expected to create a base for the country’s overall development with durable economic growth, he added.
“The project needs huge investment and the government has ensured the atmosphere conducive for foreign investment with the enactment of required laws. We have simplified the process of business and guaranteed the security of investment,” he reminded. He went on to say that administrative process had been simplified for the convenience of possible investors, calling on them to invest in the project confidently.
He further said in the aftermath of the three-tier election held in Nepal as per the constitution, political stability was achieved and the stable government formed.
Amazon Internet Service Company India’s Chandra Balani, Japan’s Sumitomo’s General Manager Masahiro Miyashita, Microsoft Asia Pacific Region’s Managing Director Sonia Bashir Kabir and Nepal’s Safal Partners’ Managing Director Ashutosh Tiwari were the speakers during the session where Joint-Secretary at the Ministry, Birendra Kumar Mishra gave his presentation on IT-related activities undertaken in Nepal.