Finance Minister Dr. Swarnim Wagle Prioritizes IT Sector for Economic Development

Kathmandu. Finance Minister Dr. Swarnim Wagle has stated that the government is moving forward with a five-year action plan by giving high priority to the Information Technology (IT) sector for Nepal's economic development. He emphasized the need for Nepal to be competitive in service sector exports during a discussion with more than two dozen startup entrepreneurs at the Ministry of Finance on Tuesday.

Dr. Wagle described the 'IIDS' study report from 2022 as a 'breakthrough' for the IT sector. The report presented statistics showing that software exports from Nepal amount to approximately $600 million annually, with over 66,000 freelancers active and 102 IT companies in operation. He noted that the IT sector has achieved significant accomplishments in a short period compared to the export of traditional goods like pashmina, carpets, and readymade garments, in which the state has been investing for the past 70 years.