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Binod Chaudhary. There are many open doors in front of you, and it is up to you now

An interview with Binod Chaudhary, Chairman of CG Corp Global (known as Chaudhary Group in Nepal)

#INTRO

For little Nepal, Binod Chaudhary is a big inspiration He is a successful Nepalese businessman who leads the country’s only multi-national conglomerate, a politician, a philanthropist and Chairman of the world spanning CG Corp Global locally knows as Chaudhary group. In February 2013, Forbes declared him the richest man in Nepal when his fortune exceeded one billion dollars.

Together with his three sons, Binod Chaudhary manages more than 160 companies across 16 verticals in 19 countries. CG Corp Global's interests include FMCG, hospitality, telecommunication, Finance and other businesses.

In 2020, Chaudhary group acquired Moldcell, the Moldovan mobile operator and now wants to take it across the globe!

Besides business and politics, Binod Chaudhary is known for his charity work. When Nepal was hit by a devastating earthquake in 2015, he donated more than $2.5 million to rebuild schools and homes destroyed by the earthquake. Over 500,000 packets of Nepal’s biggest brand Wai Wai noodles produced by the Chaudhary group was distributed. The Conglomerate also built a model village of 62 permanent house entirely on its own.

In Moldova, at the initiative of the Chaudhary group, a charity fund Moldcell Foundation has been founded.

This July, Binod Chaudhary visited Moldova for the second time. A part of his agenda also included addressing Moldovan young people. In Nepal, Binod Chaudhary is considered a Youth Icon revered by millions of Nepalese Youth.

#THE INTERVIEW

Mr. Chaudhary, you will be addressing Moldovan youth at ARTCOR today. Some guys in the audience will be 16 years old, some 18, or even a bit older. And what did you do when you were 18?

When I was 18 I opened my first business in Nepal, a nightclub called Copper Floor in Kathmandu. It was the very first of its kind, very popular among tourists. Even though I was only 18, I started developing an interesting business network, which broadened my horizons as a businessman. For my guests, it was a place for entertainment; for me, it was a place for business.

It was back in 1973. You were 18 years old at that time, and I was 8. I wonder what hits you had playing at the club back then?

We were all dancing like John Travolta and listening to ABBA. Even though I now mostly listen to Indian and Nepali music, I'm sure the music we listened to back then will stay popular forever.

We touched upon the experiences of our youth. I will never forget the first time I went to McDonald's during a trip to Moscow. Cheeseburgers and Coke were the taste of freedom back then. Why did I mention that? Today, the Chaudhary Group produces 3% of the global market for instant noodles, under the Wai Wai brand. I wonder if you still taste your noodles once in a while. And when you do, do you remember your youth?

It' s funny, but I've never tasted the noodles that brought us so much success. The thing is, I'm a vegetarian, and I've been one since birth. And Thai noodles, which I had noticed as a promising food product for Nepal, were with the taste of chicken. So I didn't try our noodles until a few years later, when we developed a special flavor for vegetarians.

But how did you venture into making a product you had never tasted?

I noticed the many boxes of these noodles being brought to Nepal and went to Thailand, looking for a partner. No one was willing to support me, while one of the producers I had persuaded to come to Nepal tried to talk me out of it, saying that the Nepalese market was not yet ready for this product and that the business would be unprofitable.

And yet?

And yet my business intuition told me that it would be a success. And so it worked out. Now we do produce about 3% of instant noodles in the world, with facilities in Nepal, India, Bangladesh, Egypt, Kazakhstan and Serbia.

Are you planning to produce noodles in Moldova? Asian cuisine is popular with us...

Yes, Moldova is also part of our plans. Now we are closely examining this matter.

Continuing with the Moldovan theme... The Chaudhary Group includes 160 companies and more than 15,000 employees. You do business in 19 countries. However, you are involved in the telecommunications business only in your home country, Nepal, and Moldova. Analyzing the portfolio of your investments, the acquisition of Moldcell seemed to be an unusual move in your general strategy line. At least, that' s how it seemed to me...

 In Nepal we have quite a strong position in telecommunications, but a company like Moldcell would take us years to build. Destiny brought us to Moldova and we are happy that we have the opportunity to buy such a company. Besides, Moldcell has a very competent, dedicated and loyal team. I would trust them to manage any business of the group, anywhere in the world.

You know what I was thinking? Not only Moldcell employees, but also talented young Moldovans have the opportunity to get a job in your company. After all, as your interests in Moldova expand, you will involve more and more people into your sphere of activity...

I am convinced this will benefit both parties. The opportunities in the modern world are endless, and working for an international company is an enriching experience. Besides, our countries, Nepal and Moldova have a lot in common. There are advantages and disadvantages to being a small country. The advantage is, and I have learned this from my own experience, that you are immediately recognized in a large row. There are a lot of big companies from the United States or Germany. However, a big company from Nepal or Moldova is noticed immediately. A global brand from Moldova? We have to pay attention to that. That's why our vision of the word "global" is to make Moldcell an international company and expand beyond Moldova.

And not only as a mobile operator?

Indeed, we are planning to launch a new service - mobile financial services. The technologies tested in Moldova can then be transferred to other markets.

Mr. Chaudhary, I have watched many of your interviews. And you almost always talk about the importance of creating a network for business. How critical, do you think, are personal connections for success?

You know, I've read a lot of biographies of successful people. And if there's a general secret to success, it's this formula: be in the right place at the right time with the right people. Without people, this formula doesn't work, no matter how many times you find yourself in the right place at the right time. Here I sit with you, today, and who knows, maybe you'll provide a new direction and we'll have some good opportunities?

Are you going to talk about that today, in your speech addressed to the young people?

I do want to be sure to say one thing - I come from a fairly poor country, but I had the courage to believe in my country. I am who I am today precisely due to that. In tough times, it's important for people, especially young people, to support their country. Young people don't see a future and leave the country? Well, I don't think it has to be that way. We can find opportunities wherever we want. You will soon be part of the EU, and you're neighbouring Romania - these are new opportunities for Moldova. There are many open doors in front of you, and it is up to you now.

Pavel Zingan

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