NAS-IT signed an MOU to contribute to the study on ‘Contribution and Challenges of IT service export to Foreign Reserve in Nepal’ initiated by Integrated Institute for Development Studies (IIDS). The final report titled “Unleashing IT: Advancing Nepal’s Digital Economy” presented some remarkable insights.The total IT service export reached USD 515 million in 2022, representing an astounding growth of 64.2%. These exports now account for 1.4% of Nepal’s GDP and 5.5% of its foreign currency reserves.   

NAS-IT and USAID Trade & Competitiveness signed a Letter of Cooperation to formalize their collaboration. The letter outlines the joint efforts of both the parties to assist each other in achieving their respective organizational goals, including hosting public-private dialogues and supporting initiatives for the growth of the IT industry in Nepal.

The first members meet of the Nepal Association for Software and IT services companies (NAS-IT) was a resounding success, with representatives from some of the country’s most prominent tech firms gathering to discuss the future of the industry. Almost all the founding members attended the meet and had the chance to network with their peers and share ideas on how to drive innovation and growth in the rapidly-evolving tech landscape. The event served as a powerful testament to the potential of Nepal’s tech industry and the critical role that NAS-IT is poised to play in shaping its future.

The “Policy Summit 2023” was jointly organized by the National Planning Commission and USAID T&C, along with participation from prominent private sector organizations like CNI, FNCCI, FNCSI, FWEAN, HAN, and NBA. Amidst a gathering of distinguished voices, NAS-IT shared its views on the policies that could help build Nepal as an IT hub. While acknowledging the sector’s immense potential, it also highlighted many challenges and hurdles in the political and legal fronts that need to be addressed for global expansion in the tech sector. NAS-IT’s presentation delved on various requests for policy amendments such as allowing Nepali tech companies to open their subsidiaries and joint-ventures abroad, reducing the FDI minimum investment to under $20,000 and creating a fast-paced FDI approval process, prioritizing local companies while procuring software for government agencies, etc.

NAS-IT, in collaboration with Nepal Private Equity Association (NPEA) and USAID T&C, conducted a Private Equity Information Sharing Session. This session empowered the NAS-IT members with the knowledge and information to explore new investment horizons. This event spurred insightful discussions to harness the potential of private equity and venture capitals to propel their ventures to new heights. 

Virtual Open House : Learn About NAS-IT was an informative session where NAS-IT shared the association’s visions, plans, membership procedure, and benefits. It was an interactive session that helped NAS-IT pave its future plans through the valuable inputs and feedback provided by the participants. The session served to validate the establishment of the association.