Emerging Business Environment in Nepal Starting from the basic concept, we’ve grown up studying that Nepal is a landlocked country. The key to this very country is held by India and China since the antecedent times; two countries that have a firm grip on Industrialization and development from its known history. Once upon a time, they were the only ones who held the key to open up a gate of economic benefits. However, upon the beneficial regards of emerging resources, Nepal itself held its key to open up its gate to horizon further than these countries.Thus, business environment in Nepal flourished after then.
Summarizing this brief history, Nepal has evolved in lots of ways in term of business. Upon the exclusion Of International relations, this country has emerged its own line Of traditional business since the medieval era. During the times where industrialization had not landed upon the country’s lap, it run its own basic industries like, woodwork, pottery, Nepal paper, etc. These items still have not lost their charms.
Currently these industries play a crucial role in terms of original traditional business.Besides these, many international connectional businesses have come forth. For instance, Usury Nepal, Nicely, etc.
Economic Liberation’s: After the formal dethroning of our former King, we all know that Nepal is now a Democratic country. During the Monarchical era, most of the large scale industries were held by the government itself. Whether it be transportation or communication, all of the system’s possession were under the Nepal government.
The public transportation was under the government. The basic communicating services were also under the government.Since telephone revise came only after the year 1970 B. S. Before that letter services were the only means of communicating. Thinking of it now, actually letter writing was a very obligatory process of communicating; it actually made people feel that someone really remembered then. Besides that, government health services were the only ones that provided health checkup services. Even if people were not satisfied with it, they had to endure it.
Nonetheless, every power was owned by the monarch government.It was only after the year, that industries that were independent of governmental power flourished Nepal Telecoms, which was the only Tell-communicating industry (held by government) came under the competition with Mere Mobile (now McNeil). Similarly, private bus services also sprang up, with the introduction to Taxi services. People started owning their own line of Public transportation services.
INCREASING ROLE OF PRIVATE SECTORS: With the commencement of private sectors, the economy of the country leapt forward. Upon the vital call, people shifted their resource interest towards private sectors more.Government based industry were found to be lacking modernization. Their traditional ways of dealing with the service provision were over powered by the private sectors.
Comparatively, people preferred their services rendered by the private sectors. The economic domain altered towards Private sectors; whether it be Airline, Communication Hydrophone,etc. Before, (Royal) Nepal Airlines was the only Airlines that provided airway services; (enter the private airline services) Buddha Air, Cosmic Air, Yeti air, etc. Grabbed people’s matter of interest with quality services.Similarly, Nepal Telecoms (NET)s lead was swept over by Mere Mobile hen it came up with idea of bonus services, pre paid services, etc. More importantly, the network service provided by Mere Mobile was firmer than Nets that led to increment of Mere Mobile users in comparison.
PRIVATE INVESTMENT IN INFRASTRUCTURE DEVELOPMENT Along with self-profit organizations, other private sectors as well came forward. With the new theme of investment for infrastructure development purpose, many projects came forward. Nevertheless, not many projects made their way to completion due to various complications.An example of success Tory in terms of private investment in infrastructure development is Nepal upward Bias Company Limited (NBC) , Napalm’s first public limited company building a National toll Highway of Asian highway standards. It aims at bringing together and managing investments, skills, expertise and resources of the Nameplates people from within and outside the country.
This Project involves a 50 km tunnel on the highway that connects Katmandu and hothead with its cost estimation from RSI. 23 billion to RSI. 34 billion. Another infrastructure related private investment sector is Hydrophone.
Many hydrophone station have risen up. Namely, some of them are Butyl Power company, Booth Kooks Power company Pet. Limited, etc. Latter one being the first private company to undertake hydrophone project.
Emergence of multi- national companies Just like a part Of development process, many multi national companies registered their place in Nepal. They emerged in the country’s context with reasonable pricing for the affordability of common citizens. Though a bit of impossibility lingered around the corner of establishment for these companies; all the same, they are now well of with customer’s increased interest.As a matter of fact, these companies reign over the market in comparison to local products. Some of the Multi National companies in Nepal are Hyatt Regency, Radiations ( Hotel) Aids, Nikkei, Lee Cooper, bossing, Rebook, Converse (Clothing line) Coca Cola, Pepsi, Forgot,etc. (Beverage) KEF, Lava, Pizza Hut, etc. (restaurant services) and others With the introduction to technology and scientific progression, work process has been made easier.
In today’s context, IT development has been highly encouraged.As an international taboo, Nepal has adopted the belief that a org that can be done in 20 days can be finished in 10 days with the help if technology enhancement. Also, development of IT has encouraged environmental security. For instance, ‘instead of printing a letter, why not send it in e-mail’ kind of encouragement. It’s a kind of strategy that brings out the best of internet facility.
It helps to reduce the cost of organizational activity; substituting the cost of five printers for an office with just one with equal amount of productivity. Furthermore, more IT engineers are encouraged for the provision of good platform.