Prime Minister Shah pledges policy reforms for global unicorn companies in Nepal

Prime Minister Balendra Shah said on Saturday that policy reforms would be made and existing regulations assessed to create an environment where Nepali game development and information technology (IT) companies can grow into global unicorns.In a social media post, Prime Minister Shah highlighted the international recognition already achieved by Nepali developers, noting that popular games like Ludo, with approximately 200 million downloads, and Callbreak, with over 150 million downloads, were created in Nepal. He said these successes demonstrate the potential for Nepali businesses to prosper in the international market.Prime Minister Shah stated that his administration has engaged with young individuals interested in game development to understand their challenges. He confirmed that groundwork has begun to address these issues and simplify the game development sector, aiming to advance it as a recognized industry.The Prime Minister’s post also noted that the current conditions for IT-related products and exports are highly favorable. He mentioned that the government plans to streamline regulations and policy reforms concerning international income, focusing on ease of earnings for companies, reinvestment opportunities, and tax simplifications. Investments will also be directed towards the overall ecosystem to benefit the IT product and gaming industry comprehensively.These initiatives will include supporting game jams, startup events, and hackathons. Prime Minister Shah also mentioned regular engagements with the information technology sector, Nepal Rastra Bank, the central bank, and the Ministry of Finance to facilitate these developments.