The Embassy of Nepal in London organised the Nepal-UK Tech Forum on the theme of “Fostering digital trade and investment: Strengthening bilateral tech ties” in London on Friday.

A series of Nepal’s success stories in the field of technology, including the thriving business climate and growing investment and export trade of IT-based products and services, were shared during the event.

“It appealed the rich audience of think-tanks, policymakers, investors and chief executive officers of companies, and smart IT professionals, mainly from the UK, to create a win win by making investments in Nepal’s IT sector, expanding IT-based businesses in Nepal and contributing to Nepal’s export of IT products,” the embassy said in a statement.

Ambassador of Nepal to the United Kingdom, Chandra Kumar Ghimire, presented a picture of Nepal augmented by the progress achieved in the field of information and communication technology in recent years.

“Against the backdrop of sending a big mass of youths for foreign employment, tens of thousands of IT graduates are entering the job market annually and catering excellent quality IT solutions to major markets of the advanced countries including the United Kingdom,” the embassy said. “They are adding manifold to the GDP by working from home itself.”

In his remarks, Ghimire made a strong appeal to the UK-based investors to invest in and rip the lucrative profits from Nepal’s proficient and competitive IT sector.

Speaking at the forum, Rob Fenn, British ambassador to Nepal, appreciated several initiatives, including IT sector reform, undertaken by the government of Nepal in recent times towards creating a competitive business climate and attracting the FDI.

However, Ambassador Fenn said that Nepal is yet to assure smooth repatriation of dividends by the foreign investors in order to be able to keep attracting more investment from abroad including the United Kingdom, the statement read.

Sushil Gyewali, CEO of the Investment Board Nepal, presented the keynote on “Nepal as an FDI destination for the UK-based investors in Tech”, highlighting the reforms made in policy, legal, institutional and procedural arrangements deployed to facilitate the incoming FDI in Nepal.

British Member of Parliament Alex Baker, who is also the chair of the all party parliamentary group for Nepal, shared her observations by appreciating the hosting of the Nepal-UK Tech Forum.

Altogether 28 speakers delivered in various sessions running throughout the day, according to the embassy.

More than a hundred people including ambassadors and other government officials from both Nepal and the UK, CEOs, chiefs, tech leaders, professors, and researchers participated in the Nepal-UK Tech Forum.

“The forum concluded with a strongly expressed commitment –to continue to work for following up on the matters discussed in order to facilitate the Nepali tech export as well as the FDI to Nepal in the days ahead,” said the embassy. “For this, it was decided to set up a ‘Nepal-UK Digital Working Group’, representing both embassies, and other relevant stakeholders.”