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Majestic Ways to Gain Economic Prosperity in Nepal

Our country being in agitation for decades is now showing some sign of rest. Peace is the inevitable part of the economic development of any country. We are not excluded from it. Our present economic growth is one digit but, we can achieve two digit economic growth. We can be the model for the world in economic growth. 

We are rich both in natural resources as well as brain power. It is only the brain power we can use in order to attain the economic prosperity in the present world. There comes the turning point for every country for the economic prosperity and we are now in the mid of such point. We must realize properly that time has come from thinking, discussing and implementing for the economic growth of the country.

I have heard lots of discussion on the economic prosperity. The buzz is hydropower.  Many people are thinking about selling the electricity will bring economic prosperity in Nepal. But in reality, it can only contribute a scanty amount to the development of Nepal economy. People do not seem to discuss the possible effect when the land gets submerged in water. Possible effect on downstream when the dam burst.  

Management of displaced people is a prime concern. Let, think about building factories and exporting the product using our electricity.  Selling the electricity for money is just like selling of Wheat at the low price and buying the floor at a high price. As we cannot control the import of assets from overseas.  This will ultimately produce a negative effect on country economies in the long run.

Tourism is listed as second, then hydropower for the development of the economy. As the number of people willing to visit a new place every year is increasing, it is inevitable that we will get a number of tourists in every preceding year. But, tourism cannot be a strong contributor to the economy as it also has lots of drawbacks including some serious one. 

One may argue that we can provide a cheap destination site in the world. But, the inevitable truth is that not a single country can remain a cheap destination for a long period of time. Being a multilingual country Nepal will lose its diversity due to the effect of tourism. Increase tourists will ultimately produce more pollution. A number of young girls forced into prostitution. Overall, it has a negative effect on society.

The present world is totally digitized. Anyone anywhere can have access to the information according to his or her savior. Nepal has a lot of genetic diversity and brain power if we can use it in a proper way we can achieve the economic prosperity. 

In the present world, we can solve the problem around the globe by sitting in the room. The basic need is that we need to have a computer and internet access.  We can launch the call center. Call center requires a lot of workers from the different background. We can solve the problem of the world rarest company and search the missing luggage in an airport around the globe by using the internet. 

The basic requirements for the employee are only the ability to speak English with few computer training. We can use an example of Bangalore, India. There are lots of learned people around Nepal who are searching for a job. Call centers will provide the good quality job with the international standard. We can also operate Software companies and IT centers at different places.

We can also operate the factory for various herbal medicines. Instead of selling raw years gumbo we can process it and can sell the product in the international market at a higher price. Making wine from the apple will be far better than making compost from it. We can commercially harvest musk from musk deer, which is of high demand in international market. Appropriate uses of our non-timber forest product will ultimately have a positive effect on the economy. By using a processing system we can create an ecosystem that will help to decrease the unemployment rate and contribute to the Nation's economy.

If we have a means of transportation between every individual town. The means of transportation can be any, such as road, ropeway, etc It will be cheaper for the transport of marketing products as well as human beings.

Decreasing the time for the licensing procedure for a business owner can have a humongous effect on the development of the economy. We can encourage free market economy by penalizing monopoly market. The government should only interfere in the market only there is a clear indication of monopoly. No doubt there should be a proper policy for the encouragement of entrepreneur.

Nepal can be a role model for developing the world with higher economic growth with creative people. We did have some chivalrous history in the past. We are exceptional in the world. We can control corruption if we have willed. For economic prosperity, we should mainly focus on using our intellectual capacity rather than focusing on using our natural resources. Using the brain power instead of muscle power will ultimately help in an economic up liftmen in a digitized world.


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