Nepal
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WHY NEPAL?
Located between two huge countries with vibrant economies, China in the north and India in the east, south and west , Nepal is a landlocked country on the southern slope of the Himalayas. The country’s economy is based on tourism, agriculture, carpets, textiles and tea. Because of its geographical and historical reasons, Nepal does most of its trade with India. However, China and the United States are also trade partners of Nepal to some extent. Further, large scale commercial activity has hitherto been in the hands of foreigners, primarily Indians.
ADVANTAGES
After designation as a Federal Democratic Republic, the Nepalese government and private sector institutions have been addressing issues such as reforming the financial sector, strengthening the private sector’s capacity, and streamlining the private sector’s development. Following are the some benefit of doing business in Nepal:
Comparative advantage
Nepal is located between two of the world’s most populous countries, India and China, with easy access to both countries vibrant markets. The country’s significant lower tariffs on imports make Nepal an attractive location for foreign investment. Natural as well as cultural assets of Nepal also offer a substantial opportunity to investors.
Market size and accessibility
Though the country is small in size with limited market, but its special relationships with neighboring countries offers significant access to the largest markets in the region. The country has an easy access to the world market. Nepal is also a member of WTO thus getting benefits of global rule based multilateral trading arrangement.
Population and workforce
Being a labor-surplus country, Nepal supplies unskilled, semiskilled, skilled and highly-skilled labor to various labor importing countries. Based on the classification of industry:
- 73.9% work in the agriculture sector and
- 26.1% are engaged in non-agriculture sectors.