Towards Prosperous Nepal
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Good policies are equally important for Nepal’s prosperity, economic development and human development rest as is political stability and a timely election (‘Towards Prosperous Nepal’, Issue Aug 2013). Good development policies are not ‘good’ enough until they are executed. So far, what is witnessed in Nepal is a frequent change in policies with every change of government. Since the establishment of democracy in Nepal, none of the elected governments have completed their scheduled tenure. A stable government that can execute good policies has been rare in Nepal, but is highly essential for pushing the country towards economic development. Nepal’s economic growth has remained low for so many years but it is often said that the country has a natural rate of growth of three per cent, so that even if nobody does anything in the economy, the country will register some annual economic growth. Some sectors have shown real progress, though they may not be considered impressive. For example, the road network is being expanded to more remote regions in the country; new hydropower projects are being completed in the next couple of years; and people now have increased access to education and health services.
The private sector and sectors where Nepal has competitive advantage are not yet growing at an impressive rate but they are not completely stagnant either. Signs have begun to be visible that they will take off soon. Therefore, in my opinion, Nepal’s prosperous future is not too far. The country will soon start to experience sustainable growth once the preconditions for economic growth act together and in favour of national development.
- Sapna Dhungel, Bansbari, Kathmandu
Tough Competition
The remittance market has been getting competitive over the years with the entry of new and strong players. Around two years ago, IME was the top remittance company that everyone had in their minds. But now, competitor companies such as Himal, Prabhu, City, and Prithivi have posed serious competition for the once market leader. I still think that this company can once again regain its position. IME still rules the roost in the domestic remittance segment with its strong network.
- Parsha KC (Via email)
Success Recipe
There is no shortcut to success but there are opportunities to achieve it. What it takes is creativity, some imagination and keeping eyes and ears open to sense opportunities that are around. It is well said that optimists see possibilities and opportunities even in calamities while pessimists see calamities in the biggest opportunities. Troubles caused by a certain difficulty may lead to opportunities when added with a pinch of creativity - it could even take the shape of an enterprise.
There are fantastic business models on paper but they may bite the dust when it comes to execution. So, a well-planned business is not the recipe of success, but a vision and daring to serve what is needed in return for a certain cost, is. Therefore, a business model is a vision, a dream and also a recipe to success as rightly pointed by the article entitled ‘Recipe of a successful business model’ in the August issue of New Business Age.
- Kapil Khanal, Sankhamul
Tourism a Lucrative Sector
The hospitality industry is an integral part of the tourism sector (‘Hotels: rediscovery of a lucrative sector’, Issue Aug 2013). Nepal has several tourist destinations and despite their tremendous potential, tourism products have not been marketed and packaged well enough to cater to existing and emerging markets.
Lately, however, the hospitality business has been gathering investments from within and abroad. Tourism entrepreneurs are optimistic about the growth this sector might witness in the near future. New hotels are being established while old ones are being upgraded. This is a good sign for the private sector. Now, promotional activities carried out by the state need to be geared up to let this sector bear some fruits.
- Sankalpa Gautam, Bouddha
Noodles Market
The noodles market in Nepal seems to have become an eternal one as eating noodles has now become a national habit of Nepalis (‘Establishing a Noodle’s Brand’ Issue Aug 2013). Noodle producers have targeted different segments of the market, offering consumers the right choice to suit their taste. Successful marketing campaigns and product placement for both rural and urban consumers have helped these companies gain firm ground in a highly competitive market. Urban consumers have been demanding premium brands while consumers from rural areas prefer budget brands. So, a single company offering both ranges of products makes it competitive in both fronts.
- Jigyasa Gurung, Pokhara
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