The policy and practices
The policy and practices of the bureaucratic system Is very slow and the attitude is also found not supporting business growth. Frequent policy changes and tax rates are always a problem contributing to discourage invest in the business. The legal process is also found to be very controversial. Corruption and the lacking In governance is a big threats to all interest sectors. Changing government has been creating the numerous obstacles to doing the business in Nepal. The clash between the political parties and the delayed In the peace process and drafting of the new constitution is also a challenge for business.
So it has created the illusion for the long term investment. The labour relation and the shortage of the qualified labour are other emerging Issues. The low wages and the fashion of foreign Job, even though generating short term benefits, creating the long term impact in the business sector. The union and changing demand are always a non stop conflict in the business. Even though there are many steps are undertaken, the adaptation of mixed economy and the public private partnership are a significant movement.
The liberal policy to attract the international investment and creating the competitive environment are lso a major one. The member of WTO and SAFTA movement are becoming an opportunity as well as threat for the market. The easy processing and the start up with some good support form beaurocracy are also opening the new door. The social cultural changes and the development of entrepreneurship sector have also developed the demand of market. The per capita income and the interest of bank In rural areas are attracting the frozen money Into the market.
There is more opportunity in the market. The opportunity of the hydropower and the tourism Is about very large. Telecommunication and the electronic product is also a rowing concern. The market of hospital and education sector is also good. But most importantly the large investment is a big issue now. The political instability and the Investment risk are associated with the business. But we can start from the following sector to improve the capability of market simultaneously with the big project too. This medium size opportunity may be expansion of tea market into global arena.
We can export the tea Into SAARC country specially India and Pakistan. We have very good climate for the tea farming, we know that due to the mismanagement of the tea ultivate and develop the healthy tea which can be the high demanded product even from Europe. Nepal was also known to be a rich country of natural resources, we have significant amount of the non timber forest product, and out hill and Himalaya are the rich source of NTFP. Like as our wood can be used to export even though it needs attentive action.
Malaysia and china are making good revenue from their forest product so we have high level of market opportunity in this sector as well. Nepal has made significant development in pharmaceutical product even though we are importing the raw material from aboard. But Nepal will be the best market as the climate is very favourable. We can develop the international hospital to attract the international client. Because the Nepal’s health cost is comparatively low than other country. So we can make the medical city.
As we know the people of Chitawan wanted to make their city a medical city. This will be the best option for the international medical business. As we know Philippines, Bangladesh has played good role in changing their education system so we can also get benefit from the lesson of Bangladesh. We can outsource the capable human resource by expanding the ducation and the technical skills. Tourism is one of the best alternatives we have now. We have many places where we can generate the foreign currency as well as can develop the rural areas.
We are also rich in biodiversity, the place of Budha, and the city of temple. The Himalayan range, the trekking and adventures game and route are most often, I like a way of life in Nepal. We have many national parks where we can make the study and research centre from where we can get significant inputs. Many foreigners think that Nepal is one of the cheapest destinations for holiday, so e can develop many star hotels even in the rural areas; we have RARA Lake, Fewa Lake. We can attract the tourist from Bangkok for their next destination as well.
The opportunity of infrastructure development project like hydropower, road, transportation, are also the most demanding sector. We can develop cable car in many temple and destination from where we can generate huge amount of money. Our mountains and hills are rich of fruits production, we know that Juice is the most selling product even in Nepal; it can be linked with tourism market as well. So what we can say that if we have many challenge like political instability and the slow eaurocracy, if a good leader are born and motivate the people for the action then our future is bright.