Nepal has always existed as an independent nation. Nepal is recognized by the world as the birth Place of Lord Buddha and it has the World’s Highest Peak, the Mount Everest which lies in the South Asian Region of Nepal.
Nepal is in Southern Asia, between China and India. It covers total area of 143,351 sq km and its boundary is 2,926 km long in total, bordered by China 1,236 km and India 1,690 km. It is a landlocked country.
The weather and climate varies from hot summers to severe winters. The land starts from 70m from sea level from Kanchan Kalan in Terai which passes through the hilly region to the world's highest point Mount Everest at 8,850 m.
Nepal is known for its natural beauty and it has its own cultures. It has more than 70 ethnic groups and more than 60 different languages are spoken in different parts of Nepal. Nepali is the national language of Nepal, and the Nepalese people practice several religions. Till now Hinduism and Buddhism have the largest population.
Nepal is not only the country of diversity but also the country of specialty. Nepal stands for the lowest gorge of the World to the highest ranges of peak and lake, and known for 70% of the rare bird’s habitat and transit place of the unique birds from all over the World. These specialties make Nepal II World’s best destination for tourism, excursion, sight-seeing, trekking and hiking.
The Economy of Nepal
An isolated, agrarian society until the mid-20th century, Nepal entered the modern era in 1951 without schools, hospitals, roads, telecommunications, electric power, industry, or civil service. The country has, however, made progress toward sustainable economic growth since the 1950s and is committed to a program of economic liberalization.
Nepal has used a series of five-year plans in an attempt to make progress in economic development. It completed its ninth economic development plan in 2002; its currency has been made convertible, and 17 state enterprises have been privatized. Foreign aid accounts for more than half of the development budget. Government priorities over the years have been the development of transportation and communication facilities, agriculture, and industry. Since 1975, improved government administration and rural development efforts have been emphasized.
Agriculture remains Nepal's principal economic activity, employing 80% of the population and providing 37% of GDP. Only about 20% of the total area is cultivable; another 33% is forested; most of the rest is mountainous. Rice and wheat are the main food crops. The lowland Terai region produces an agricultural surplus, part of which supplies the food-deficient hill areas.
Economic development in social services and infrastructure has not made dramatic progress due to GDP dependency on India. A countrywide primary education system is under development, and Tribhuvan University has several campuses. Please see Education in Nepal for further details. Although eradication efforts continue, malaria had been controlled in the fertile but previously uninhabitable Terai region in the south. Kathmandu is linked to India and nearby hill regions by road and an expanding highway network. The capital was almost out of fuel and transport of supplies caused by a crippling general strike in southern Nepal on February 17, 2008.
Major towns are connected to the capital by telephone and domestic air services. The export-oriented carpet and garment industries have grown rapidly in recent years and together now account for approximately 70% of merchandise exports.
Nepal was ranked 54th worst of 81 ranked countries (those with GHI > 5.0) on the Global Hunger Index in 2011, between Cambodia and Togo. Nepal's current score of 19.9 is better than in 2010 (20.0) and much improved than its score of 27.5 in 1990.
Foreign Investments and Taxation
Huge number of Small Foreign Investment comes to Nepal via the Non Resident Nepali, who are investing in Shopping Mall, Plaza, Real Estate Business, Tourism etc. Nepal has huge capacity of Hydroelectricity due to which huge number of foreign companies in line but the political instability has stop the process at the same time its growing own its own. Nepal entered into agreement for avoidance of double taxation (all in credit method) with 10 countries (PSRD) since 1987. Similarly, it has Investment protection agreement with 5 countries (PSRD) since 1983.
Tourism Based Economy
This is one of the most potential trades of Nepal. This contributes 26% to GDP (approximately) and even could be more, if Government can establish required infrastructure and advertise tourism using different media. The main attractions of the tourism sector are as follows:
Rafting, kayaking and canyoning
Ultra light aircraft
National parks and wildlife reserves
Manpower Recruitment Business
Remittance is the only one income of the country, which has been contributing 32% to GDP for 5 to 6 years. This sector could be more developed by making citizens skilled and professional by introducing new systems and planting so that every Nepalese could earn more than what they are getting now in overseas countries
Apollo Manpower Service Pvt. Ltd.
Tel: +977 1 4113748, 4113770
Fax.: +977 1 4490042