Anton Ambrose serves as the Head of Public Policy and Regulatory Affairs for APAC at inDrive. With over 20 years of experience in policy advocacy, including roles in aviation and mobility solutions across APAC, the Middle East, and Africa, Ambrose excels at navigating intricate regulatory environments. During a recent visit to Nepal, he sat down with New Business Age to discuss inDrive’s market presence in the country, recent policy changes, and future strategies. Excerpts:

How does inDrive view Nepal as a market?

Nepal is a Tier 1 market for us within the Asia Pacific region. It holds significant importance not only for its business growth potential but also because of the overwhelming response we’ve received from the people and the broader investment landscape. We are planning to establish a full-fledged office in Nepal soon. Additionally, we are working on introducing insurance for our drivers, which is set to roll out by the end of fisrt quarter. Our focus will remain on initiatives like Envision projects and impact programs, alongside expanding our EV offerings as part of our future strategy. Starting next month, we will launch a comprehensive 360-degree marketing campaign in Nepal, reflecting our commitment to investing in and contributing to the market.

The Supreme Court has recently instructed the Nepal government to expedite the enactment of legislation regulating ride-sharing services. What are your thoughts on this development?

Having clear guidelines is beneficial. We are not against regulation, particularly for organizations like ours that operate in 46 countries. We can share best practices from what has proven effective in other markets from a regulatory standpoint. Collaboration is key—engage with us and work together. This is what we advocate for. Policies cannot be crafted in isolation through internal discussions alone. They must be designed to benefit the community, the drivers, and the organization as a whole. At our core, we are a business, but one that is deeply invested in the country, its people, and its communities. Otherwise, we wouldn’t be here. Having been in Nepal for two years now, we have consistently emphasized the importance of collaboration. Nepal holds immense potential, and that’s precisely why we are here today—to explore and discuss it together.

The government’s proposed law aims to allow foreign investors to hold up to 70% ownership in ride-sharing businesses in Nepal. How do you think this 70-30 FDI arrangement would impact inDrive’s operations in Nepal?

The 70-30 rule will likely give potential investors pause. They’ll think, “Now we have to find a local partner,” which raises concerns. First, will we find the right local partner? Second, this could deter future investments in Nepal, pushing investors toward markets like India and Bangladesh, where foreign ownership is often allowed at 100%. India, for instance, has been very progressive in this regard.

I also wonder how Nepal arrived at the 70-30 rule. As a tech company, we typically expect 100% foreign ownership opportunities. In contrast, the transportation sector often follows an 80-20 rule. If such a rule is necessary, perhaps a hybrid model could be considered. After all, we are not purely a service company—we are a tech-enabled platform. While we operate in the transportation sector, we facilitate rather than own; we don’t own cars or any physical assets.

Do similar FDI regulations for ride-sharing exist in other markets where inDrive operates? If yes, how have these regulations influenced business dynamics in those regions?

As investors, our priorities are always market potential and growth opportunities. Nepal has immense potential, with growth rates that sometimes surpass even those of advanced economies. However, ease of doing business is equally critical. Businesses seek clear, consistent policies and tend to avoid markets where regulations frequently change or create obstacles that shift every few months or years. For example, we were granted approval for 100% foreign ownership in February 2024, but just two months later, in March, a new ordinance introduced a 70-30 rule—and we were given only 30 days to comply. Notably, Nepal is the only market where we operate that has a 70-30 rule. Businesses need time to identify the right local partner and conduct thorough due diligence. Policies like these cannot be imposed overnight without consulting stakeholders. This is why we advocate for dialogue and collaboration. Despite these challenges, we remain deeply committed to Nepal. Having been here for two years, we’re not just focused on business—we’re actively involved in community initiatives and creating income opportunities for drivers and the people of Nepal.

How might this proposed criterion impact Nepal’s appeal to foreign investors, especially in the tech and digital economy sectors?

Nepal risks becoming less attractive to foreign investors compared to its neighbors, which are far more welcoming. India, for instance, is actively encouraging FDI and fostering a business-friendly environment, making it a more appealing destination. This policy could ultimately harm Nepal as a whole. It is a regressive approach. While the intent may be to protect a select few, the broader population will likely suffer. You also risk losing talent. Nepal has a young, dynamic population, but without sufficient job opportunities, many will leave—and a significant number may never return. The consequences extend beyond business; they affect the country’s long-term growth and development.

You’ve recently been in discussions with Nepali policymakers and have met with several government stakeholders. What were these conversations like, and how receptive or positive has the government’s approach been?

We’ve recently begun engaging with Nepali policymakers and have met with officials from the Department of Industry. While their approach tends to be more procedural, I believe Nepal needs progressive, forward-thinking policies—ones that encourage innovation rather than stifle it. Such elements are essential for driving growth and creating an environment that attracts investment.

During our meeting with the DoI, we stressed the importance of collaboration, urging them to engage with us and work together to move forward. We also met with officials from the Investment Board, where we highlighted the need for more open and inclusive dialogue. In our meetings with the DoI and the Investment Board, we urged them to involve us in the policy-making process. inDrive can serve as a global case study, showcasing how innovation and collaboration can benefit all parties.

If the government does not address your concerns, will inDrive consider scaling down its presence in Nepal?

This question may extend beyond my purview, but I can share my perspective based on what I understand. We have remained committed to Nepal, but recent developments have prompted us to reevaluate the future of our investments more carefully. What’s to stop the government from changing the policy again, say to a 50-50 split tomorrow? Such uncertainty is concerning, and we’ve raised this issue during our discussions. How committed is the government to creating a stable investment environment? Giving us just 30 days to comply with significant policy changes is neither practical nor sustainable. These are critical matters.

inDrive was officially launched in Nepal in May 2024. How has the journey been since then? Has inDrive expanded its service offerings, and are there plans to extend operations to more cities beyond the current ones?

I’ve been with the company for four months, and in that time, I’ve seen firsthand the incredible growth and impact we’ve had in Nepal. We’ve expanded beyond Kathmandu to smaller cities, demonstrating our commitment to the country. Beyond business, we’re actively involved in community projects, and the public can attest to the positive work we’re doing. Since our launch, we’ve evolved significantly. Starting with ride-hailing, we’ve added intercity rides, delivery services, and a comfort class featuring EV cars. Nepal has been a key market for us, and we’ve been well-received. We also prioritize giving back through CSR and impact projects. For example, our “Your Pace” initiative offers training for children, adults, and drivers. We’ve partnered with the Kathmandu Marathon for three years and are currently working with MCDM to build bamboo homes for disaster-affected families.

Additionally, we support initiatives like the Alternative Awards for filmmakers and the Aurora Tech Awards for female entrepreneurs, with strong participation from Nepal. Our local team has grown, including a Nepali-speaking customer support team, reflecting our deep commitment to the market. This progress underscores how much we’ve developed as a company in Nepal.

(This interview was originally published in  February 2025  issue of New Business Age Magazine.)