To strengthen the IT sector and encourage international growth, Nepal Rastra Bank (NRB) released an encouraging monetary policy on Sunday. As per the new guidelines, industries and businesses engaged in exporting of digital services will be facilitated by the government to establish contact offices in foreign countries. Additionally, to further support technological advancements, businesses can now access a percentage of foreign currency earned for purchasing software, programs, and equipment through commercial banks, by submitting the required documents.
NAS-IT, Nepal Association for Software and IT Services Companies, had been actively lobbying for these policy amendments. Recognizing the potential it holds for its member companies and the entire tech ecosystem, NAS-IT welcomed this government initiative. The government’s monetary policy brings several benefits to NAS-IT member companies. It enables them to expand their global presence, tap into new customer segments, and forge strategic partnerships. Moreover, access to foreign currency earned, allows them to invest in advanced technology, capacity enhancement, productivity, and fostering innovations in the IT industry.
NAS-IT aims to create a better ecosystem for the IT sector to thrive and remain competitive on the global stage. It is committed to collaborate with government authorities and other stakeholders to ensure effective implementation of these policy changes.
Media Coverage: