After a successful transformation into a federal republic, Nepal had set a vision for a peaceful and prosperous Nepal by 2030. And, to achieve these goals Nepal is struggling to upgrade its status to a developed nation soon.
While the country was stepping forwards to transition, the Covid-19 pandemic hit the world, after that it changes the scenario of everything we look at. Nepal also couldn’t keep it far for days from this pandemic and since then things get worst than we have ever imagined.
We started witnessing the backlash of our highly anticipated campaign Visit Nepal 2020 that would have been a great success, followed by a contract of growth rate to nearly 2.5% which was aimed to reach 9%, and then comes the greatest challenge of all time – struggling for livelihood.
It is a hard blow to economic activities and life around the world, business starts facing unavoidable losses in ugly numbers, and daily wage earners are the wost-hit. Countries around the world have started looking for a fine cushion to overcome the economic shock Covid-19 has caused. Businesses are going digital and entrepreneurs are coming with digital-based innovative ideas.
In Nepal also, digital-based businesses are surging and the government is also signaling towards the transition to the digital economy. Amid the lockdown, we are socially distant but digitally united. With the increase in a daily average cashless transaction through the use of mobile banking, internet banking, and different e-wallets we are gradually moving towards a cashless economy. Likewise, E-payment and National payment gateways have remodeled the payment process becoming a strong pillar of the digital economy.
Businesses are extending their services through digital platforms and are trying to ease the life of customers, important conferences/seminars are being held through digital medium and even education sector are encouraging virtual learning.
In this time of crisis, digital technologies have played a vital role to prevent the complete halt of business activities and has saved many families and organizations.
But the prime concern here is can country like ours where around 21% of total people only have access to the internet holds the ability to step in the digital economy? Where cybersecurity has always been the top question raised and our geographical structure has always been the biggest challenge despite this are we well prepared and ready to move ahead towards digital Nepal at the same pace with global digitization.
Are we aware enough about both the positive and negative impact that the digital economy will bring to us? Are we financially prepared and are we strong in terms of policies/rules/laws to adopt the digital economy? Do we have a farsighted vision for a sustainable digital economy or we are just trying to run behind it randomly?
Binita is a Public Relations Executive at Prisma Advertising. She joined Prisma in January 2019 and has been actively working with Xiaomi Nepal. Before Joining Prisma, she worked at Suvadin Media and Research Center for 1.5 Years. She is also the student of Master in Economics at Ratna Rajya Laxmi Campus. She can be contacted here.
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