Prime Minister Balendra Shah (Balen) has announced plans for policy and tax changes to help Nepal’s gaming and IT sectors grow on a global scale.
The government is reviewing current policies to support local game and technology developers, enabling them to thrive and invest.
In a social media post on Saturday, the Prime Minister highlighted Nepal’s potential to compete internationally, driven by the rising popularity of Nepali-made games.
Nepal has achieved millions of downloads for its games.
Two notable games, Ludo and Call Break, have found global success.
Ludo has nearly 200 million downloads, while Call Break has exceeded 150 million downloads worldwide.
Many young people in Nepal are actively developing game applications.
The success of these games indicates an opportunity to harness the nation’s creative and technical skills.
Government Engages with Game Developers
The Prime Minister has consulted with game developers to understand their challenges.
Discussions have focused on issues related to running game businesses, expanding globally, and building a sustainable industry.
“We are taking steps to tackle these challenges and are exploring policy changes that may hinder our tech companies,” said Shah.
Tax and Regulatory Reforms
The government plans to revise the tax system and regulations concerning information technology creation.
“The aim is to simplify profit retention and encourage reinvestment for business growth,” Shah stated.
Additionally, the government will work on relaxing outdated regulations affecting global revenue generation.
This could help Nepal’s tech companies operate more efficiently in international markets.
Investing in Innovation
The Prime Minister emphasized the need to invest in initiatives that foster innovation and support young tech entrepreneurs.
Programs like Game Jams, startup events, and hackathons will be considered.
These initiatives can provide developers with opportunities to create new products, collaborate with professionals, and connect with potential investors.
The government will also promote ongoing dialogue between tech industry players, Nepal Rastra Bank, and the Ministry of Finance, according to the Prime Minister.
Nepal has the talent and potential to build competitive tech companies that can achieve global recognition and become unicorns.
A unicorn is defined as a private startup valued at over one billion US dollars.
The government aims to create an environment where Nepalis can establish their own companies and reach global customers.
While the changes are still under review, they reflect a commitment to recognizing gaming and software development as vital sectors of the economy.
If implemented effectively, these changes could create new opportunities for young developers, tech startups, and the expanding digital economy in Nepal.