Invest in Nepal’s IT and energy sector, officials say

London  — Nepali officials have called upon British investors to invest in the Himalayan nation’s Information Technology (IT) and energy sector, among others.

Addressing the Nepal-UK Tech Forum hosted by the Embassy of Nepal, London,  Ambassador of Nepal to the UK, Chandra Kumar Ghimire, highlighted the country’s recent economic and policy transformations. “Nepal is now a power-exporting country and is home to a vibrant IT market. We are racing like a leopard,” he said. According to a 2022 survey by IIDS, a think tank,  Nepal’s IT industry was valued at USD 515 million, with over 15,000 graduates entering the market annually—many trained to global standards and offering a cost-competitive edge. Ambassador Ghimire urged British companies to outsource IT services to Nepal, describing it as “one of the best countries for British trade and investment.”

British Ambassador to Nepal, Rob Fenn, emphasized the importance of building investment bridges, particularly in IT and renewable energy. “We haven’t yet seen the full force of what foreign investment can do in Nepal,” he noted, urging British investors to take advantage of opportunities in the under-invested Himalayan nation. Ambassador Fenn also mentioned that the UK government, through British International Investment (BII), is actively supporting green growth in Nepal. “Together with the World Bank, IFC, and Nepali banks, we’ve already delivered $60 million in green bonds,” he said. Plans are underway to conclude a Double Taxation Avoidance Agreement (DTAA) with Nepal to improve the investment climate further, he added.

Sushil Gyewali, CEO of the Investment Board Nepal (IBN), outlined  Nepal’s ambition to attract USD 15 billion in foreign investment over the next three years, with a focus on energy, ICT, and infrastructure. “Nepal is the third most favourable business destination in South Asia, according to the World Bank,” Gyewali noted. With 100% FDI allowed in the IT sector, tax holidays of up to seven years, and profit repatriation permitted, he said Nepal was ready to position itself as a digital powerhouse by 2030. Mr Gyewali also revealed plans to establish major IT parks in all seven provinces and to create an IT Promotion Board chaired by the Prime Minister. “We aim to make Nepal a regional hub for AI, data economy, and digital innovation, among others,”  he added.

Anjani Phuyal, CEO of Genese Solution – a UK-based  IT consulting and cybersecurity firm, emphasized his mission to expand digital access and promote gender inclusion in tech. “Nepal offers an unbeatable combination of low cost and high-quality talent,” he said, urging more UK-based companies to take advantage of this opportunity. “Nepali Universities are now offering state-of-the art course like AI, Cloud and Cybersecurity, and Nepali talents are now working for top global banks while based in Nepal,” he said.

Tim Gocher, Founder and CEO of Dolma Impact Fund, highlighted the transformative potential of AI and data centres in Nepal. With 12,000 jobs already created through Dolma’s investments, he said Nepal is uniquely positioned to lead in tech-driven productivity across sectors like healthcare and logistics. “We need brains and broadband. Nepal has both,” he said. Gocher also emphasized Nepal's natural advantages—cool climate, clean energy, and digital workforce—for building world-class data centres.

President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra P Dhakal said that  FNCCI has established an FDI support desk to facilitate foreign investors. “We have showcased Nepal’s potential ,  highly skilled, cost-effective tech force, young entrepreneurs ready to work with global partners. IT Parks will further enhance our competitiveness. Our digital and service sector remain globally competitive. We invite you to collaborate in Nepal to build digital future. Investment in digital platform and market linkages,” he said.

Chair of All Party Parliamentary Group (APPG) on Nepal, Alex Baker, MP, thanked the Embassy of Nepal for organizing such an impactful event to promote Nepal’s IT sector in the UK. Alex Baker, MP. “There is a need for closer interactions between our governments, people and ideas,” said Ms Baker. She also advised that introducing direct flight between Kathmandu and London would be helpful on many fronts.

Panel discussions were organized  on the themes ‘Governing the Digital Future: Policy Perspectives on Infotech’, ‘Changing Landscapes of Digital Trade in Nepal-UK Relation: Success, Challenge & Way Forward,’ and ‘FDI Prospects in Nepal-UK Digital Relations: Success, Challenge & Way Forward.’ Hosting a panel discussion on the theme ‘Diaspora & Digital Diplomacy – The Power of Global Nepalis,’ Niranjan Kunwar, Global CTO & CISO at Genese Solution, urged the government of Nepali to recognize the value Nepali diaspora were adding to the country’s overall development. He urged the Nepal government to allow continuity of Nepali citizenship of dual citizenship – if possible- to involve them as a major stakeholder in the country’s transformation.

Craig Somers from CloudFactory praised Nepali tech talent for its resilience, innovation, and global contributions in areas like autonomous vehicles, AI, and drone technology. “Nepal is not just a country of mountains—it’s a country of technological peaks,” he said.

Speakers including Tim Gocher- Founder and CEO, Dolma Impact Fund, Neelesh Man Singh Pradhan, CEO at Nepal Clearing House Ltd., Hem Raj Dhakal, Co-Founder & Managing Director IME Group Nepal  (IME),  Abhinav Sinha, Santosh Koirala, President-NASIT-Nepal, and Entrepreneur Ms Ruby Raut highlighted the prospects of IT sector in Nepal and called upon the British businesses to tap on Nepal’s IT and other potentials.