KATHMANDU, Aug 12: The scope of Nepal’s digital economy is expanding rapidly, moving beyond financial technology and digital payments into new areas such as content creation, the gig economy, and algorithm-driven businesses, experts have observed.
They noted that the country’s digital economy is no longer confined to fintech services but increasingly encompasses diverse sectors. The gig economy—also known as the sharing or access economy—refers to a labor market based on short-term, flexible, or freelance jobs often facilitated by digital platforms. Algorithm-driven businesses, meanwhile, rely on computer algorithms to make decisions, automate tasks, and manage operations.
Speaking at a discussion on the digital economy organized by the Committee on Development, Economic Affairs and Good Governance under the National Assembly on Tuesday, expert Ramakanta Pandey said the impact of the digital economy was becoming increasingly visible in Nepal’s market.
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Pandey observed that the activities of content creators and influencers were beginning to shape economic trends, while advances in digital technology were creating new types of businesses and employment opportunities. “Until recently, we viewed fintech and digital money as the digital economy. We have now moved beyond that framework,” he remarked.
Similarly, expert Dinesh Bista asserted that Nepal had promising prospects in the digital economy but stressed the need to strengthen digital infrastructure, expand 5G networks, and improve the legal framework.
Bista called for appropriate laws to facilitate the development of digital public infrastructure, particularly to enable secure data sharing among government agencies. He emphasized that a data exchange platform could significantly reduce the time and administrative burden involved in services such as company registration, where information currently has to be verified and exchanged among multiple agencies.
“Clear legal provisions are needed regarding whether or not another entity has the right to access data held by a school or hospital,” he pointed out. He also highlighted the need for stronger personal data protection, saying agencies should be held accountable for unauthorized use or leakage of citizens’ personal information.
Other participants in the meeting echoed similar concerns, calling for prioritization of technological infrastructure, data security, inter-agency data sharing, digital governance, and an appropriate legal framework to accelerate Nepal’s digital economy.
