KATHMANDU: Prime Minister KP Sharma Oli has announced that the recently proposed ordinance related to information technology (IT) aims to establish the sector as a significant foreign exchange earning industry for Nepal.
According to the Prime Minister, the ordinance seeks to remove legal barriers and facilitate the global operations of Nepali IT companies.
The ordinance, recommended to the President following a Cabinet meeting on Friday, introduces provisions that allow Nepali IT companies to invest and open branch offices abroad.
Additionally, it enables the legal repatriation of earnings generated from these international ventures.
Prime Minister Oli shared the development on Facebook, stating, “The Cabinet meeting has recommended to the Honorable President a law that will make it easier to repatriate earnings made in IT through an ordinance. We believe that this will develop IT as a foreign exchange earning industry.”
This move is expected to support IT companies in expanding their reach, attracting global clients, and contributing to Nepal’s economy by earning foreign exchange.
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