Udhyami Nepali

Udhyami Nepali One stop platform to START and GROW your business. We also tell stories of enterprise and entrepreneurs in Nepal!

Foreign Investment in IT sector in Nepal nosedives!Foreign investors don’t seem too keen to invest money in the informat...
27/06/2022

Foreign Investment in IT sector in Nepal nosedives!

Foreign investors don’t seem too keen to invest money in the information and technology sector.

According to the Department of Industry, Foreign direct investment (FDI) pledges in the IT sector plunged 409 percent year-on-year in the first 11 months of the current fiscal year ended mid-June.

Nepal received six small-scale FDI commitments in the information and technology sector worth Rs.81.75 million in the review period, compared to last year when FDI commitments in this sector totaled Rs.3 billion for 16 projects.

Source: Nepal Invests

So what is the reason behind such a decline? The high minimum threshold for foreign investment? or something else?

And here are some of the incentives announced by the Nepal Government! Will these be enough?

June 27 is marked as the World MSME Day! The United Nations General Assembly in 2017 designated 27 June as “Micro-, Smal...
27/06/2022

June 27 is marked as the World MSME Day!

The United Nations General Assembly in 2017 designated 27 June as “Micro-, Small, and Medium-sized Enterprises Day” (A/RES/71/279) to raise awareness of the tremendous contributions of micro-, small and medium-sized enterprises (MSMEs) to the achievement of the United Nations Sustainable Development Goals (SDGs).

Do you know what MSME means?

MSME is the acronym for Micro, Small, and Medium-sized Enterprises!

So what are micro, small and medium sized enterprises?

As per definition, micro enterprises are the ones that employ fewer than 10 people!

Small enterprises employ 10 or more employees but fewer than 50!

Meanwhile, medium sized enterprises are the ones which employ fewer than 250 employees.

So, what is the type of the enterprise you work at? Please comment below!

MSMEs account for 90% of businesses, 60 to 70% of employment and 50% of GDP worldwide. As the backbone of societies everywhere they contribute to local and national economies and to sustaining livelihoods, in particular among the working poor, women, youth, and groups in vulnerable situations.

In Nepal, MSMEs contribute 22% of the GDP and is reported to employ around 3 million people!

And the theme for the World MSME Day 2022 is "Resilience and Rebuilding: MSMEs for Sustainable Development"! MSMEs have been severely impacted by the COVID 19 pandemic and the subsequent lockdowns and restrictions on the movement!

So much that several had to completely shut down and many had to lay off their team members.

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