Technology seeking international markets

The system of passport, license, national identity card should be great for us, but there are problems with it. Service delivery has been stopped for several days due to having to rely on the contractor company for maintenance. If such systems were created or operated through Nepali people, this would not be a hassle.

फाल्गुन ७, २०८०सुवास शर्मा

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The data released by Nepal Rastra Bank recently showed that in the first six months of the current financial year, remittances of Rs. We were surprised that foreign exchange reserves increased. Last July, the study report of IIDS stated that Nepal earned about 68 billion rupees in one year by selling information technology services abroad.

Technology seeking international markets

We were also shocked that our information technology engineers are earning so much by working for foreign companies.

We should not be surprised that we have brought in some foreign currency from both foreign employment and IT service exports. These sectors may not bring long-term benefits to domestic economic activity or the local economy. Income through foreign employment There is no fundamental difference between

(remittance) and earnings through outsourcing services in information technology. The work of the Nepalese manpower involved in both these fields is limited to earning a salary by producing or providing services for foreigners. They do not play a direct role in increasing productivity and solving local problems. That being said, outsourcing services should not be discouraged as its benefits are numerous. However, there is no difference between the remittances earned through the unskilled and semi-skilled manpower we send to the Gulf and the money brought in by the IT skilled manpower. We have sent people to work in the Gulf for $500 to $1,000. They are working on the mega structure project there.

Our IT engineer is also working on big projects of big IT companies in America, Japan, Singapore. For that, they have received the salary, they have sent the money home, we have received dollars. But the long-term income and productivity from the physical and digital infrastructure built abroad is the main concern for us. While we are happy with the immediate benefits, the long-term benefits are slipping away.

The skilled people here are working in Nepal, from producing software for many big companies including Microsoft, Tesla, Marvel Cinema Universal, Amazon, to their problem solving and maintenance work. Instead, we will benefit in the long term if those engineers work for us or solve countless problems here. Together with foreign countries, they can increase the productivity of Nepal and make the economy viable, that opportunity is needed.

On the one hand, we are giving billions of contracts to foreign companies to make systems for national identity cards, passports, and licenses. On the other hand, our engineers earned so many billions by working for foreign companies, we are puffing our noses saying that our youth work for America. It was a contradiction to give your work to an outsider and to be surprised by doing work outside yourself. For example, if Fwan Soft also worked for foreign companies, it would have been easier for us, it would have been financially attractive, but doing so would not have created value in our economy. We worked to solve our own problems, which also contributed to our economy. Now being a company worth 5 or 10 billion, it has left a positive impact on society, it has become easier for people to pay money.

It is not so much a trend to protect, encourage, or open the way for business expansion of the nature of making the country's economy run. An example is a ride sharing service. The government has given legal recognition to this sector by making provisions related to ride sharing services after the amendment of the Industrial Business Act, 2076 only last month. Earlier, due to the lack of legal clarity, there was a lot of controversy about Total Company, which started this service in Nepal, and the government once instructed to close it.

From 2015 to 2017, when Total started in Nepal, Pathao started in Bangladesh at the same time. As soon as the total started with us, it was delineated by asking whether it was legal or illegal. There, Pathao expanded its services internationally by bringing in money from American investors. While Pathao was making great progress in Nepal, Total was displaced from the market. We have not been able to protect the startups that were born in our country, but foreign investment companies are expanding Mangge services in our market.

Policy and practical confusion for IT-based startups or entrepreneurship in Nepal still remains. There are many challenges, especially in the regulatory business. No one has come into the insurance sector as e-services have come into payment. Although there is a good chance of this, the National Insurance Authority is just asking for opinions and advice on the issue of insurance policy through online. As digital insurance policy guidelines are about to be released, it is said to give advice.

No one here is confident to do innovative work. Before starting a new project, there may be a break in the idea development phase. We don't have a supportive environment to make an idea (startup) big. Which startups have been successful in a decade? Iseva, fudmandu, pocket. It is difficult to remember names other than these. We should have so many successful startups in so many years. It is said that a new startup unicorn (a company with a valuation of more than $1 billion) is born every month in India.