Economist Lamichhane said that foreign employment has become a compulsion instead of an opportunity, and pointed out that the weakness of the manufacturing and industrial sectors has caused problems in the overall economy.
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Economist Anjana Lamichhane has said that foreign employment has become an economic obligation in Nepal, not an opportunity. In the second session of the Kantipur Economic Summit, she mentioned that economic activity, employment and entrepreneurship are important for the development of the social sector.
‘Foreign employment has now become an economic obligation, it should have been developed as an opportunity,’ she said. ‘Although the external indicators of our economy appear positive, this is only a short-term stability because it is based on remittances rather than production.’
She expressed concern over the declining contribution of the industrial sector to the gross domestic product (GDP). Lamichhane says that it is necessary to take the industry towards a long-term economic transformation. ‘Our production and industrial sector are weak, and private investment is also low,’ she said. ‘Although there is liquidity in the banks, there is no confidence among investors.’ This has not been able to increase investment.' She suggested that the government should spend the budget in a way that produces effective results rather than scattering the budget on small projects. She also pointed out that the procedure for evaluating the return on investment needs to be improved.
