Construction Industry In Nepal Essay
CONSTRUCTION MARKET OF NEPAL
Being located between the two nations India and China, Nepal is a warming country with economic development and political stability. Nepalese construction industry is engaged mainly in construction of infrastructures, hydropower, irrigation, buildings and other real estate property. Infrastructure constructions namely comprise of roads and greenery, highways, public facility and government buildings. Besides, the economic growth has affected the business of real estate industry encouraging the construction of new ones. Construction industry in Nepal stands as the second largest employer by providing employment opportunity to a huge population of uneducated and unemployed as well as skilled, unskilled and seasonal
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Infrastructure connects the nation for education, economy and culture with transportation and communication, uniting people of different culture and region into one creating a land worth to live in. Nepal is a landlocked and second richest nation in water resources with huge capability of hydropower energy.
Construction industry in Nepal contributes approximately 10% to GDP. Construction industry mobilizes 35% of government total budget and 60% of the nation’s development budget. A major portion of national budget is allocated for infrastructure development so as to deliver the facility of transportation and communication in rural areas and achieve better quality of infrastructure in existing ones. Besides, construction industry has been providing employment to over a million
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2) Construction development in other parts of country other than capital city Kathmandu due to infrastructure development and political stability.
3) Positive attitude of public towards construction companies and professionals rather than depending on traditional way of construction.
4) In the last two decade, there has been considerable progress in the construction industry. During the period, the Nepalese contractors have been able to develop their management skill, improve working capacity, financial and technical capabilities, and acquire suitable construction equipment.
5) There are many companies and brands emerging in Nepali market. Brands like Komatsu, Case, Caterpillar and Tata construction deal with equipment like excavators, loaders, rollers, backhoe loaders, wheel loaders, etc. Likewise, Doosan, Hyundai, Kawasaki, Mahindra and Ashoka also have introduced various construction equipment. The major chunk client for equipment are contractors, while real estate developers, hydropower and mining projects, government
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