Kathmandu- The Embassy of Nepal in London has recently organized the Nepal-UK Tech Forum on the theme of 'Fostering Digital Trade and Investment: Strengthening Bilateral Tech Ties.'

The tech forum sketched Nepal as a prominent IT hub by sharing a series of Nepal's success stories in the field of technology, including the thriving business climate and growing investment and export trade of IT based products and services.

Likewise, the forum also appealed to the rich audience of think-tanks, policymakers, investors and CEOs of companies, and smart IT professionals, mainly from the UK, to create a win win by making investments in Nepal's IT sector, expanding IT based businesses in Nepal, and contributing to Nepal's export of IT products.

While welcoming the guests, Chandra Kumar Ghimire, ambassador of Nepal to the United Kingdom, presented a fascinating picture of Nepal augmented by the phenomenal progress achieved in the field of information and communication technology in recent years.

Against the backdrop of sending a big mass of youths for foreign employment, tens of thousands of IT graduates are entering the job market annually and catering excellent quality IT solutions to major markets of the advanced countries including the United Kingdom, he said. 

Ambassador Ghimire made a strong appeal to the UK-based investors to invest in and reap the lucrative profits from Nepal's proficient and competitive IT sector.

Speaking at the Forum, Rob Fenn, British Ambassador to Nepal, appreciated several initiatives, including IT sector reform, undertaken by the Government of Nepal in recent times towards creating a competitive business climate and attracting the FDI.

However, Ambassador Fenn opined that Nepal is still to assure smooth repatriation of dividend by the foreign investors in order to be able to keep attracting more investment from abroad including the United Kingdom.

In the Forum, Sushil Gyawali, the CEO of the Investment Board Nepal, presented the key note on 'Nepal as an FDI Destination for the UK-based Investors in Tech' highlighting the reforms made in policy, legal, institutional and procedural arrangements deployed to facilitate the incoming FDI in Nepal.

Sharing data on the investment gap vis-à-vis the scheduled graduation of Nepal from the status of a Least Developed Country by 2026, achievement of the UN Sustainable Development Goals by 2030, as well as the set objectives of the 16th National Plan, the CEO's note was full of optimism and appealed to the UK-based IT companies and other businesses to massively direct their investment to Nepal.

In order to further facilitate the desired FDI flow, the CEO also shared the ongoing efforts made toward signing the double taxation avoidance agreement between Nepal and the United Kingdom.

Other luring stories and presentations around infotech, fintech, technology-based Nepal-UK trade opportunities and running IT based businesses in Nepal kept the forum alive and the audience engaged, followed by series of panels on AI as a driver of growth, digital trade, prospects of UK investment in Nepal's digital economy, digital diplomacy with the extensive Nepali diaspora, among others.