Atlas Network is proud to recognize Samriddhi Foundation as the recipient of the Asia Liberty Award, honoring its leadership in advancing economic freedom and meaningful regulatory reform in Nepal.
The Asia Liberty Award is part of the Templeton Freedom Award prize program, sponsored by Templeton Religion Trust and named for the late investor and philanthropist Sir John Templeton. In addition to Asia, the program sponsors regional awards in Africa, Europe, Latin America, North America, and the Middle East and North Africa. Its grand prize, the Templeton Freedom Award, is presented annually at Atlas Network’s Liberty Forum and Freedom Dinner in New York City.
Nepal has long struggled under excessive business regulation, contributing to an economic environment where nearly half of the country’s companies operate informally and more than a quarter of workers are employed outside the formal economy. Layers of red tape, complex licensing requirements, and outdated legislation have made it difficult for entrepreneurs to start, grow, and formalize their businesses.
Recognizing these challenges, Samriddhi Foundation set out to roll back Nepal’s burdensome regulatory regime by championing pro-market amendments to existing legislation. Rather than relying on traditional advocacy alone, Samriddhi focused on securing broad, multi-partisan political support for reform, understanding that durable change in Nepal requires cooperation across party lines.
Through this approach, Samriddhi successfully worked with the Government of Nepal to approve 11 key legislative amendments aimed at improving the country’s economic and business environment. These reforms have expanded opportunities for foreign investment, simplified and clarified rules governing venture capital activity, and increased options for employee ownership in private businesses. Together, the amendments mark a significant milestone for economic freedom in Nepal, helping to reduce barriers to entry, encourage formalization, and create a more favorable environment for entrepreneurs, employers, and workers alike.
Central to this success was the creation of the Nepal Leader’s Circle, a platform convened by Samriddhi that brings together Members of Parliament and private-sector leaders to foster dialogue and build consensus around reform. By encouraging collaboration rather than confrontation, the Nepal Leader’s Circle has helped translate ideas into action and ensured that reform efforts maintain legitimacy across political lines.
“For a livable Nepal, we need to create more opportunities for our young generation by opening markets, easing business regulation, and bringing investment,” said Samriddhi Foundation Executive Director Deependra Chaulagain. “There is a long way to go, but recent reforms, especially in the IT sector, are an important signal. Samriddhi will always be there for positive reforms.”
The Asia Liberty Award recognizes Samriddhi Foundation’s principled leadership, strategic innovation, and lasting impact. By strengthening the foundations of a more open and competitive economy, Samriddhi’s work is helping to expand opportunity and lay the groundwork for long-term prosperity in Nepal.
