South Asia
Watch on Trade Economics and Environment (SAWTEE) organized a discussion between
the High-Level Committee for Tax System Reform and businesses and experts from
Nepal’s information technology (IT) industry on 3 January 2024 at SAWTEE office.
The committee, chaired by former minister and finance secretary Vidyadhar
Mallik, received inputs on opportunities, problems, and changes essential for
accelerating the growth of Nepal’s IT sector.
The dialogue
engaged diverse stakeholders, delving into Nepal’s digital economy, IT export
potential, and the realm of domestic and cross-border digital trade.
Participants, spanning IT entrepreneurs, government officials, and business
leaders, offered valuable insights on the challenges, prospects, and essential facilitations
required for promoting information technology businesses in the country. In
extensive discussions, participants explored the opportunities and hurdles
faced by local IT companies venturing into the export of IT products. They
addressed the intertwined challenges and possibilities within the IT export
sector, highlighting the critical issue of brain drain. This underscored the
urgent need for strategies aimed at retaining local expertise and talent within
Nepal’s IT landscape. Participants urged robust government backing to enhance
Nepal’s IT product exports, emphasizing the need for policies that both
facilitate exports and protect local IT firms, ensuring their sustained growth.
Tax reforms were at the centre of discussions, crucial for supporting Nepal’s
expanding IT sector, emphasizing their role in fostering an environment
conducive to IT growth and innovation.
The session
concluded on a high note, reflecting a collective commitment to harness Nepal’s
IT potential and streamline policies for a thriving technological landscape.
