Background
In 1951, the Nepalese monarch ended the century-old system of rule by hereditary premiers and instituted a cabinet system of government. Reforms in 1990 established a multiparty democracy within the framework of a constitutional monarchy. Following a nation-wide election in April 2008, the newly formed Constituent declared Nepal a federal democratic republic and abolished the monarchy.
Nepal ranks among the world's poorest countries, with a per capita income of around $427 in 2009. Based on national calorie/GNP criteria, an estimated 55% of the population is below the poverty line of $1.25 per day. In FY 2009-2010 Nepal's exports decreased by 6% from 2007-2008. Imports grew by 187% in FY 2009-2010 from 2007-2008. Exports constrained by political turmoil and a poor investment climate were also impacted by the worldwide financial crisis. According to the revised estimates of the Central Bureau of Statistics, GDP growth increased marginally to 3.72% in 2005-2006 and slipped to 3.19% in FY 2006-2007. In 2009 GDP grew by about 4.7%.
Agriculture remains Nepal's principal economic activity, employing over 73% of the population and providing 34% of GDP. Industrial activity mainly involves the processing of agricultural products, including pulses, jute, sugarcane, tobacco, and grain. Nepal has considerable scope for exploiting its potential in hydropower, with an estimated 42,000 MW of feasible capacity, but political instability hampers foreign investment. Additional challenges to Nepal's growth include its landlocked geographic location, civil strife and labor unrest, and its susceptibility to natural disaster.
Holidays
Jan 11 - National Unity Day
Jan 29 - Martyrs' Memorial Day
Feb 13* - Vasant Panchami
Feb 19 - Rashtriya Prajatantra Divas (National Democracy Day)
Mar 8 - Nepalese Women's Day
Mar 8* - Shivaratri (in honour of Lord Shiva)
Mar 9* - Ghode Jatra (Festival of Horses)
Mar 18* - Chaite Dashain
Mar 19* - Ram Nawami (Birthday of Lord Ram)
Mar 25* - Holi
Apr 14 - Navabarsha (New Year's Day)
Apr 21* - Buddha Jayanti (Birthday of Lord Buddha)
Aug 30* - Rakshya Bandhan (Janai Purnima)
Sep 1* - Gai Jatra (Procession of Cows)
Sep 6* - Krishna Asthami (Birthday of Lord Krishna)
Sep 17* - Teej (Festival of Women)
Sep 27* - Indra Jatra (Festival of Rain God)
Oct 22* - Dasain (Durga Puja Festival)
Nov 9 - Constitution Day
Nov 12* - Deepawali (Festival of Lights)
Dec 29 - King Birendra's Birthday
Ps: Some of the above are Hindu festivals(*), which are declared according to local astronomical observations. It is not possible to predict the exact dates of festivals occuring and the dates published are approximations. Travellers should check locally nearer the time for precise dates.
Phone Codes
Country Code: 977
Outgoing International Code: 00
Resources
Market Research
CIA - The World Factbook - Nepal
This website indicates a wide range of detail information about Nepal by introducing under 8 different fields as its geography, people, government, economy, communications, transportation, military, transnational issues.
About Nepal
There is available to find out Nepal's general outlook on the issues of its social and business profile, passport/visa, money, accomodation, government, duty free, health and so forth.
Nepal Yellow Pages
It is available to find out category-wise listings of business in Nepal, including telephone numbers and postal address.
B2Nepal.Com - Business to Nepal
There is a business directory in which makes easy to contact the businesses in Nepal via assisting the categorised listings of companies.
The List of Custom Clearing and Freight Forwarding Agents in Nepal
There is a list which iindicates the agents serving for custom clearing and freight forwarding to the investors.
Business in Nepal
Kasbah.com makes the list of the companies which assist to potential investors for their business networks in Nepal.
Trade Information
Nepal Chamber of Commerce
It is the official website of Nepal Chamber of Commerce that basically aims to provide consultant service for local and foreign investors.
Important Business Links for Nepal
There is listed the Chambers of Commerce of Nepal including their contact information. Besides, it is available to find out the business associations, ministries and so forth.
Nepal Government Online
There is a list of government ministries of Nepal including their webpage accession.
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