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'Developing IT sector will benefit economy' in Nepal

Wednesday

The government must designate a particular area in the city and ensure 24-hour electricity with security — that is a basic necessity — and encourage Information Technology (IT) companies to move to the area, according to an expert.

The ‘zoning’ will not only encourage IT companies but also help generate other economic activities in the area, said executive chairman of deerwalk Inc Rudra Pandey.

The government could offer subsidy to IT companies like tax break and security to encourage them, said the head of deerwalk that has already established itself as one of the largest software companies in Nepal — in just three years — with 170 employees and 30 US companies as its regular clients. “The government can create a resource pool by taking the lead to jump start one sector by preparing specialised manpower.”
The IT industry can help transform the country’s economy by creating employment opportunities for thousands of youths, said Pandey, adding that the future of the country is in the hands of the youth, who share a common vision of developing Nepal.

He opined that there is no magic formula to create employment. “But a country like Nepal has a future in software and tourism,” he said, adding that the country has comparative advantage in them.

But the government has to improve and upgrade the infrastructure and keep the  city clean as in the long term infrastructure development is key, added Pandey, who started D2Hawkeye Inc and brought offshore consultancy to Nepal in 2002.

He sold the company to Verisk Analytics, though the company retained him as chief operating officer till 2010.

However, Pandey’s dream, confidence and entrepreneurship gave birth to deerwalk Inc that is headquartered in Lexington, Massachusetts. It offers high quality services to its onshore clients with a local presence in the US, and at the same time, it also gives them benefits of offshore pricing which is generally lower than that of local companies through its wholly owned subsidiary based in Kathmandu. He plans to provide jobs to some 1,000 youths in the next five years.

Deerwalk has a campus in Kathmandu that provides applied education, which the IT entrepreneur thinks is key to better job opportunity, “but the government has to control quality,” added Pandey.

Besides education, the government must start massive training programmes for the youth, who can work in the country or choose to go for foreign employment, according to Pandey. “In both the situation, the country will gain as migrants will send double remittance as compared to the current amount and if they remain in the country, one can get better employment.”

There are only two types of businesses — either one provides service to consumers or

to other businesses — he opined, adding that in both types of businesses a young graduate can provide service to the consumer by doing the same thing in a different way, like what he did.

Sources:- The Himalayan Times

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