Stakeholders at the NewBiz Business Conclave and Business Excellence Awards 2025 stressed the need for urgent policy reforms, greater investment facilitation, and stronger innovation across key sectors including telecom, digital payments, and agriculture.
A panel discussion during the conclave raised issues for regulatory clarity, simplified licensing procedures, and long-term investment incentives to revive Nepal’s shrinking telecom industry.
Speaking at the panel discussion on the topic “Driving Growth Through Reform”, held as part of the ninth edition of the NewBiz Conclave organized by New Business Age Limited in Kathmandu on Thursday, panelists urged the government to prioritize digital infrastructure to support emerging payment systems and e-commerce platforms. In agriculture, speakers emphasized the need to enhance farmers’ productivity and bring back skilled migrant workers through innovation and support.
Ncell CEO Jabbor Kayumov stressed the urgent need to reform existing policies governing the telecom sector to foster its development. He highlighted the necessity of overhauling investment policies targeting foreign telecom companies and pointed to examples from India and other countries to argue that Nepal must adopt a more investment-friendly approach.
Kayumov called for simplification of the license renewal process and policy clarity from regulators to promote long-term investment. He emphasized that Nepal must not ignore the need for cutting-edge technologies.
He advocated for an integrated licensing regime covering all telecom and technology-related services and urged that Nepal position itself as an attractive destination for investors. He also highlighted the need to ease share sales and ownership transfer procedures and remove delays in foreign currency approvals that hinder business operations.
Kayumov added that the problems in the sector stem not only from outdated telecom laws but also from a lack of decision-making capacity and leadership. He expressed readiness to collaborate with government ministries and regulators to improve service delivery.
He noted a steady decline in Nepal's telecom sector over the past five to six years, with only two major operators — Nepal Telecom and Ncell — remaining in the market. While India’s telecom industry is thriving, Nepal continues to struggle, with delays in launching 5G services even as the world moves towards 6G, he said.
Also speaking at the panel discussion, tech entrepreneur Balkrishna Joshi pointed out the persistent lack of infrastructure for digital payments in Nepal. “Even today, Nepal lacks sufficient infrastructure for digital payments. The government must prioritize this,” he said.
Joshi recalled how he started Thamel.com to link digital payments, e-commerce, and cultural and familial connections for Nepalis living abroad.
Nepali Congress General Secretary Gagan Kumar Thapa emphasized the need for reform across all stages of the budget process — from formulation to execution. He said that despite repeated amendments to the public procurement regulations, development projects have failed to gather momentum.
Thapa informed the audience that the Public Procurement Act is soon to be amended in Parliament, though he acknowledged that enacting laws swiftly under Nepal’s parliamentary system remains a challenge. He also stressed the importance of timely project execution and legal provisions to enforce accountability.
“The failure to spend allocated funds often stems from shortcomings of both civil servants and contractors. In some cases, the budget itself is insufficient. Those who do not deliver should be penalized, and underfunded projects should receive adequate resources,” he said. He expressed dissatisfaction with the inclusion of small-scale projects in the new budget and called for alternative financing mechanisms to supplement government funding.
“It’s unfortunate that chief administrative officers were not present at the local level during the budget formulation process,” Thapa said, stressing the need to strengthen staffing and resources at the local level.
Meanwhile, Moushumi Shrestha, Executive Director of Shreenagar Agro Group of Companies, said her company is working to bring back Nepali farmers who have migrated abroad and enhance their productivity.
“When I visit farmers’ fields, I see hope in their eyes,” said Shrestha. “Our goal is to transform their livelihoods by improving their capabilities. This journey is not easy, but we are committed to it.” She added that their efforts are focused on innovation and equipping farmers with modern technologies.
The session was moderated by Semanta Dahal, Advocate and Partner, Abhinawa Law Chamber.
