|State system||Parliamentary republic|
|Head of State||Bidya Devi Handari|
|Head of government||Sher Bahadur Deuba|
|Currency name||Nepalese Rupee (NPR)|
|Time shift||+4.45 hours (in summer +3.45 hours)|
|Nominal GDP (billion USD)||125.3|
|Economic growth (%)||4|
Nepal, officially the Federal Democratic Republic of Nepal, is a landlocked country in South Asia. It is located mainly in the Himalayas, but also includes parts of the Indo-Gangetic Plain, bordering Tibet and China to the north and India to the south, east and west, being closely separated from Bangladesh by the Siliguri Corridor, and from Bhutan by the Indian state of Sikkim.
Nepal is a multi-ethnic, multilingual, multi-religious and multicultural state with Nepali as its official language. Nepal has a population of 30 million. The population of Nepal consists of more than 60 different ethnicities and caste groups, which can be divided into people of Tibeto-Nepali origin (Mongoloid group) and people of Indo-Nepali origin (descendants of Indo-Aryan immigrants). Kathmandu is the capital and largest city of the country.
The Constitution of Nepal, adopted in 2015, affirms the country as a secular federal parliamentary republic divided into seven provinces. Nepal is a parliamentary republic with a multi-party system. It has three political parties recognized in the federal parliament: the Communist Party of Nepal (NCP), the Nepali Congress (NC) and the Janata Samajbadi Nepal (JSPN).
Nepal hosts the permanent secretariat of the South Asian Association for Regional Cooperation (SAARC), of which it is a founding member. Nepal is also a member of the Non-Aligned Movement and the Bay of Bengal Initiative. Nepal is one of the main contributors to UN peacekeeping missions.
The largest employer in the country is the agricultural sector, and tourism, especially alpine tourism, plays an important role in the creation of GDP. The largest and most decisive export partner is India, followed by the USA and the EU. The largest importer is India, followed by China. The gross domestic product (GDP) of Nepal for 2021 was $36.32 billion. With an annual growth rate calculated at 2.7% in 2021. Major industries include tourism, carpets, textiles, cigarettes, cement, bricks as well as small mills for rice, jute, sugar and oilseeds.
Nepal has made significant progress in reducing poverty, taking the population below the international poverty line ($1.90 per person per day) from 15% in 2010 to just 9.3% in 2018, although vulnerability remains extremely high, with nearly 32% the population lives on between US$1.90 and US$3.20 per person per day.
This summary territorial information is processed for the country that is so-called accredited. The information is provided in an abbreviated form.
Culture of business dealings
- Business Meeting
- Public Holidays
Although business ethics are increasingly approaching the standards valid in Europe and the USA, Czech entrepreneurs may encounter a number of peculiarities that result from different cultural and social conditions and business practices.
Titles are very important and it is best to address partners directly using their professional title or Mr., Mrs. or Miss, followed by their last name. A handshake is common to initiate communication. Personal communication is always more effective than long distance communication methods.
Nepal is one of the least developed countries in the world, many development programs and projects are very difficult to get off the ground due to the inability of local authorities to administer projects and the insufficient legal framework and corruption. The economic life of the country is concentrated in the capital Kathmandu, nepotism and intermingling of business and state spheres is very common.
Personal business meetings are important. Meetings are usually not delayed, but it is a good idea to confirm them before they take place. Formal attire is expected for business meetings. A casual conversation, at least on the order of a few minutes, is needed before the conversation goes to the work level. As a rule, coffee or other drinks are offered, it is polite to accept them and at least taste them. The recommended meeting is in English, which local business partners are generally fluent in.
Face-to-face meetings are preferred over communication via telephone, letter or e-mail. English is preferred for business negotiations. Visit Aparentingblog for more information about Nepal culture and traditions.
Before closing a deal, Czech companies should check the registration and creditworthiness of their Nepali business partners. Information can be obtained from the following contacts:
Nepal Chamber of Commerce – Nepal Chamber of Commerce (mail: [email protected])
The Federation of Nepalese Chambers of Commerce and Industry (mail: [email protected]).
We also recommend using the Honorary Consulate General of the Czech Republic in Kathmandu to check business partners or tenders.
January 11 – Prithvi Jayanti
January 14 – Maghe Sankranti
February 12 – Sonam Losar
March 8 – Nari Dibas
March 11 – Maha Shivaratri
March 28-29 – Fagu Purnima (Holi)
April 14 – Nepali New Year
May 14 – Ramjan Edul Fikra
May 26 – Buddha Jayanti (Buddha’s Birthday)
July 21 – Edul Aajha
August 30 – Gaura Festival
September 20 – Constitution Day
October 12 – Phulpati
October 14 – Maha Navami
October 15 – Vijay Dashami
November 4 – Laxmi Puja
November 5 – Govardhan Puja
November 6 – Bhai Tika
November 10 – Chaath Puja
November 19 – Guru Nanak’s Birthday
December 25 – Christmas Day