Globally, we are experiencing an exciting digital revolution, and Nepal is no exception as the country is on the cusp of digital transformation. Frost & Sullivan has served as a bridge between entities and governments in various parts of the world. Similarly, we aspire to boost Nepal to enter this digital era.
The world right now is experiencing tremendous changes — the disruption, collapse, and transformation in businesses, business models, economies and regions are unprecedented. We were in an industrial age where growth was driven based on linear expectations. We are now moving into the digital era, where growth is expected to be exponential. Nepal, as a country, is also ready to accept this change.
These changes provide opportunities for countries like Nepal to move up the chain at a rapid pace. Nepali citizens, especially the youth, can play active roles in briskly forerunning the development of the country whereby Nepal can catapult into the digital era without having to pass through all the phases of economic growth. The first step would be for the Government of Nepal to invest in building a robust IT ecosystem. This will stimulate economic growth, create entrepreneurship and increase innovation in the area of digital technology and solutions.
In addition, due to the geographic location of the country, Nepal has access to the two largest markets — India and China — which will further speed up its rise in the technological arena. Connectivity is key to moving forward, so making access to the internet a fundamental right can propel the nation toward digital transformation. Once this underlying infrastructure has been established, the private sector, especially financial institutions, can contribute significantly toward accumulating capital and generating new ideas.
We encourage you to join us in our efforts to accelerate Nepal’s transformation whereby it will eventually become a part of the global economy.