The Nepal Chamber of Commerce (NCC) has announced plans to facilitate investment in the IT industry in the country. After the government issued an ordinance to ease investment in the sector, the NCC has set strategic goals to promote investment in the IT sector and facilitate international market access, it informed in a statement on Friday.

Through its IT, Software, and Technology Committee, the NCC will actively seek investments in the IT industry and work towards fostering entrepreneurship. The Chamber has already held discussions with IT entrepreneurs on these initiatives. President of the NCC, Kamlesh Kumar Agarwal, said that the IT industry holds significant potential for economic development and prosperity in Nepal, which is why the NC is focusing on investment facilitation.

"The IT industry is now a key source of foreign exchange for Nepal, and the government has set a target to generate Rs. 3 trillion annually within the next decade. The Chamber will work to secure investments and facilitate access to international markets for the growth of the IT sector,” said Agrawal.

Agarwal also noted that the IT industry could be established through public investment.

According to him, the relatively lower cost of skilled manpower in Nepal compared to international standards makes it a suitable opportunity for the country. “Chamber would play a role in policy facilitation to involve Nepali youth in the IT sector,” he said.

Rajendra Malla, Immediate Past President of the NCC, suggested that to promote the development of the IT industry, priority should be given to creating companies under the public-private partnership (PPP) model. He added that with the support of international companies, Nepal could serve as a base for global IT operations.

Bigyan Shrestha, Chairperson of the IT Committee, pointed to the need for collaboration between the government and the private sector to expand the IT industry. He stressed the importance of increasing access to investment to turn young people’s innovative ideas and thinking into reality.