BINOD CHOUDHARY– ALWAYS EXPANDING AND GROWING
Bijaya Ghimire, COLORADO: Binod Chaudhary, Nepal’s sole billionaire in the Forbes list, is planning to expand his business in the United States.
His Choudhary Group has investment in some hotels in New York but Binod is not fully satisfied.
He has plans to expand market for his group’s popular noodle brand Wai wai in the US market by installing its own factory here in America and dreams about establishing one IT company in the US silicon valley.
But it is said that Chasing the Silicon Valley dream is harder than one would think.
Inspired from his industrious father, Chaudhary always envisioned to become a very big industrialist of Nepal.
With more than four decades of continuous hard work, Binod Choudhary not only is living his dreams of his multi-national company but has also taken lengthy steps forward in hospitality business
Chaudhary Group- the biggest conglomerate of Nepal has invested in nearly hotels and resorts in South Asia, East Asia and other countries in the world.
Many of them are now functional while some are on its final phase.
Choudhary Group has made a strategical commitment to take the number of hotels and resorts to 2 hundred by 2020.
Binod Choudhary, the renowned industrialist and the first Nepali citizen to register his name in the Forbes Magazine’s list of Worlds’ Billionaires said this.
His business ventures and corporate partnerships have now spread over the world. He made extensive investment in the hospitality sectors which helped him grow his fortune steadily. He has many projects running in Dubai, Maldives, Thailand, and many other nations, under the brand of Zinc and Glow Y Zinc.
The Group’s other notable areas of interests are finance, banking, cement, real estate, hotels, electronics and home appliances, education, energy, biotech, power, retail.
In the year 1996, the communist hardliner Maoist raised arms and ammunition against the then regime pushing the country into a sort of cold war that put brakes on Nepal’s economic development.
There was ‘wait and see’ moment for the investors and they spent years of business chaos in the country.
But the high aspiring Binod Choudhary, the president of a leading conglomerate in the country was bullish and did never got influenced by the then moves in the country.
Binod averted that Nepalese are going to see sweeping changes. And all political parties, including the Maoists, are committed to reshaping Nepal’s economic destiny.
Nepal’s existing law still prevents Nepalese from investing abroad but not for Binod as it appears.
He transcend the investment boundary at a time when Nepal was running through difficult times.
Breaking from the years of political heat, his decision proved right and Binod has now become multi-national industrialist and businessman recognized globally.
To a question on what was the most difficult situation on your business expansion, Choudhary said that he worked in very difficult circumstances.
He said that anything could have had happened in Sri Lanka, India, Nepal and in some African countries which were reeling under severe political instability.
In his country Nepal, Binod said further that there were 22 new governments in the span of 25 years and government policy used to change after every change.
In the United States, law implementation is strong and there are sound infrastructures but competition is very tough stated Binod.
The CG Wai Wai also comes into the United States but only limited export.
Choudhary says that growth and expansion was never easy and he is committed to expanding his business empire in the United States.
He dreams on listing any of his company in the New York Stock Exchange-Binod has stated this in his biography.
That’s why it has become obvious for Binod Choudhary to take a deep plunge in the country having the world’s largest economy and consumer market– America.
Published Date: Sunday, August 21st, 2016 | 10:42 AM