Deuba stresses local entrepreneurship for job creation, self-sufficiency

KATHMANDU: Nepali Congress (NC) President and former Prime Minister Sher Bahadur Deuba has emphasised the importance of fostering local entrepreneurship to generate employment and achieve self-sufficiency. 

Speaking at the inauguration of Nepal Startup and Small and Medium Enterprises Conference, organised by the NC Department for Entrepreneurship and Small and Medium-sized Enterprises in Sanepa, Lalitpur today, Deuba highlighted the role of local entrepreneurship in job creation and self-sufficiency.

Deuba noted the growing interest in startups among the youth, who are increasingly investing their creativity and small capital into new ventures. He stressed the need for facilities such as concessional loans, training and skill development opportunities, and special grants to support startups. He urged entrepreneurs to exercise patience for the sustainability of their businesses.

The former prime minister also underscored the significance of developing key sectors such as agriculture, forestry, and tourism to boost the country's economic growth. He mentioned recent revisions to various laws and regulations aimed at removing obstacles to investment and business, which would help promote these sectors.

Deuba further advised the state to prioritise the development of the IT sector, stating that political stability, proper utilisation of natural resources, development of human resources, and coordinated mobilisation of capital and technology are essential for advancing the IT sector.

Expressing his belief in the conference's outcomes, Deuba said they would provide valuable guidance for the party in preparing an action plan and for the government in policy formulation. The event also aims to compile a report and a book based on the conference's outcomes, build a network of youth capable of contributing to entrepreneurship and economic growth, and promote local products through policy reforms and exhibitions. "We are all hopeful of achieving the desired results through collective efforts," Deuba added.

The two-day conference, which commenced today at the NC central office in Sanepa, Lalitpur, primarily aims to encourage and support youth and women interested in starting their own businesses.

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