December 8: Industry minister Nabindra Raj Joshi has stressed on the need for creation of more jobs and the country taking a new and proactive approach for the economic and industrial development. “Nepal needs a major departure for economic and industrial development,” Joshi said. He was speaking at the Joint Review of Micro Enterprise Development for Poverty Alleviation (MEDPA) and Micro Enterprise Development Program (MEDEP) held on December 7. He mentioned that it was important create more enterprises to generate employment within the country to reduce foreign employment. “We want our youths to move to foreign countries as skilled human resource and experts in different field rather than going to work there as labors,” he said. Currently, Nepal has a working population of 48 per cent, and every year, 500,000 youths enter the job market.

Minister Joshi urged Nepali entrepreneurs to focus on utilizing the available resources without giving much concern to the prolonged political instability. “Producing quality products and marketing them nationally and internationally will definitely improve the economic condition of the country,” he said.

According to the report unveiled in the programme, the combined efforts of MEDPA and MEDEP have helped increase per capita income by 343.8 per cent from Rs 17,605 to Rs78, 133.

As per the data, there currently are 115,014 micro entrepreneurs in the country. The report also highlighted the inclusive structure of the number with 70 per cent women, 30 per cent Dalits, 40 per cent indigenous groups and 40 per cent Madheshis.

“The programmes of MEDPA have identified the steps for developing entrepreneurship and market demands in national and international frontiers in 69 districts till now. The organisation also aims to solve the problems of micro enterprises like high interest rates of commercial banks, lack of financial institutions in remote areas and reach to all 75 districts by 2018,” said Yam Kumari Khatiwada, Spokesperson at the Ministry of Industry (MOI) said while presenting MEDPA's progress reviewof the past six years.

 “The programme will help in Nepal’s goal to reduce poverty and graduate from Least Developed Countries by 2022,” said Sophie Kemkhadze, Deputy Country Director of the UNDP, adding, “However, the larger industries need to make collaborative efforts to promote the micro enterprises to help in the government’s goal.”

Similarly, Ainsley Hemming, Head of Development Cooperation at the Australian Embassy in Nepal further assured Australia’s commitment to assist Nepal to achieve its target working closely with the MoI to strengthen and institutionalise micro entrepreneurship development.