ICAN launches GAIN Project, aiming to create 50 thousand jobs in five years

Kathmandu, Jan 7: The Institute of Chartered Accountants of Nepal (ICAN) has launched a project titled “Global Accounting Initiative in Nepal” (GAIN) with the aim of making Nepal’s accounting services internationally competitive and increasing income generation for the country.

The Project was launched amid a programme held in the federal capital today. According to ICAN, the main objectives of the project are to brand Nepal as a reliable outsourcing destination for accountancy services, develop strategic partnerships, and create sustainable employment opportunities.

Through the GAIN project, ICAN has set a target of creating more than 50,000 jobs annually within the next five years and over 150,000 jobs in the next ten years. The institute also expects the Project to generate around Rs 80 billion for the country through service exports.

The Project prioritises the development of regulatory and institutional frameworks required for accounting outsourcing, the establishment of secure digital infrastructure, training of human resources in line with international standards, and the expansion of high-quality services. Likewise, innovation and entrepreneurship will be promoted through the establishment of outsourcing hubs, digital platforms, and incubation centres.

Speaking at the launching ceremony, ICAN President Nil Bahadur Saru Magar said the project would be implemented as a regular programme from the upcoming fiscal year. He added that the strong presence of India, Bangladesh, Vietnam, and the Philippines in the global market indicates that Nepal also has the potential to compete internationally in accounting services. However, he stressed that skills enhancement and policy clarity are essential to establish Nepal as an accounting outsourcing hub in South Asia.

Through the implementation of the project, ICAN plans to carry out digital promotion targeting potential markets such as the United Kingdom, Australia, the United States, and the European Union; produce high-quality promotional materials; and expand opportunities through collaboration with Nepali communities living abroad.

The Project also plans to introduce internationally accepted accounting software, launch specialised certification programmes in outsourcing, develop a national talent registration system, and enhance outsourcing-oriented academic curricula.

ICAN believes the Project will result in the formulation of  supportive policy measures such as tax exemptions, clear VAT guidelines, simplified foreign exchange procedures, strengthened data protection laws, permission for Nepali companies to open branches abroad, and faster approval of foreign investment. (RSS)