Nepal urges British investors to boost tech sector collaboration

July 5, Kathmandu: A high-level Nepal-UK Tech Forum, hosted at the Nepali Embassy in London on Friday, brought together policymakers, diplomats, business leaders, and tech entrepreneurs from both nations to explore investment and partnership opportunities in Nepal’s information technology sector.

Nepal’s Ambassador to the UK, Chandra Kumar Ghimire, highlighted Nepal’s position as a democratic and inclusive nation in South Asia. He emphasised recent economic and policy reforms, noting that Nepal had transitioned into an energy-exporting country with a vibrant IT market. He urged British companies to outsource IT services and invest in Nepal.

UK Ambassador to Nepal, Rob Fenn, described the current moment as ideal for attracting British investment and enhancing bilateral trade. He noted preparations for a double taxation avoidance agreement and underscored Nepal’s potential in IT and renewable energy investments.

British MP and Chair of the All-Party Parliamentary Group for Nepal, Alex Baker, stressed the need for direct air connectivity between Nepal and the UK to facilitate business ties.

Sushil Gyawali, CEO of Nepal’s Investment Board, outlined the government’s focus on energy, IT, and infrastructure development. He highlighted incentives for foreign investors, including 100% foreign direct investment allowance, seven-year tax exemptions, and profit repatriation facilities.

Plans are underway to establish IT parks in all seven provinces and create an IT Promotion Board chaired by the Prime Minister. Tim Gocher, founder of Dolma Impact Fund, pointed to Nepal’s potential for boosting productivity through artificial intelligence and data centres. He cited the country’s cool Himalayan climate, clean energy, and skilled digital workforce as ideal for building world-class data centres.

Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry, emphasised Nepal’s competitiveness in digital services and IT. He invited collaboration in joint ventures and e-governance to build a digital future.

Anjani Phuyal, CEO of UK-based tech firm Genesys Solutions, praised Nepal’s young workforce for delivering high-quality services at competitive costs. He advocated for expanding tech infrastructure across all provinces.

Santosh Koirala, President of NAS IT, Nepal’s IT industry body, noted that around 90,000 youth are employed in the sector, generating approximately $800 million annually. He expressed ambitions to expand Nepal’s IT exports, which currently see over 75% directed to the US, to the UK within the next four to five years.

Other speakers, including IME Group co-founder Hem Raj Dhakal, Nepal Clearing House CEO Neelesh Man Singh Pradhan, Genesys Solutions Global CTO Niranjan Kunwar, young entrepreneur Rubi Raut, and Britain-Nepal Chamber of Commerce President Kapil Rijal, echoed the vast potential for trade and investment between Nepal and the UK.