PM Oli Vows to Develop IT Sector as a Foreign Currency Earning Industry

Prime Minister KP Sharma Oli has announced the government’s commitment to transforming Nepal’s information technology (IT) sector into a major foreign currency-earning industry. Taking to Facebook today, PM Oli stated that recent legal obstacles faced by IT professionals in Nepal have been addressed through a Cabinet decision made on Friday, which was forwarded to the President as an ordinance.

“The ordinance facilitates earning foreign currency from the IT sector, enabling Nepali IT companies to invest abroad and establish branches to generate income,” PM Oli emphasized. He expressed confidence that this legal reform would help position IT as a key contributor to Nepal’s economic growth and foreign revenue stream.

In a related event, Home Minister Ramesh Lekhak highlighted the government’s efforts to reform laws for economic growth. Speaking at the 25th Annual General Meeting of the Nepal Stationery and Educational Goods Industry Association, Minister Lekhak said, “The ordinance supports industrial development and governance reform, particularly in the IT sector, by facilitating the export of IT services and encouraging investment by non-resident Nepalis.”

He further emphasized the government’s policy of promoting and utilizing national products, adding that the reforms provide a legal foundation for Nepali IT companies to operate abroad and attract foreign investment.

These developments are seen as significant steps toward boosting Nepal’s IT sector and diversifying its economic base in the global market.