We use Google Cloud Translation Services. Google requires we provide the following disclaimer relating to use of this service:
This service may contain translations powered by Google. Google disclaims all warranties related to the translations, expressed or implied, including any warranties of accuracy, reliability, and any implied warranties of merchantability, fitness for a particular purpose, and noninfringement.
Sushil Gyawali, Chief Executive Officer of the Board of Investment, said that the small and medium industries are getting the necessary capital easily. On the second day of the National Labor and Employment Conference, 2081 held in Kathmandu, Gyawali said this on the subject of 'Investment, production and production enhancement in Nepal'.
Gyawali said that production and productivity can be increased by using advanced technology. Old technologies are being used in agriculture and manufacturing industry. Upgrading has not been done,' he said, 'Traditional work practices are being done. Production capacity is not being increased.'
Saying that a large number of labor forces are joining the informal sector, Gyawali said that no one has gone through the formal way to enhance their capacity. According to the 2023 data of the World Bank, the labor force of Nepal is 84 lakh.
Only 39.8 percent of them are above 15 years old. According to the World Bank report, women are 28.7 percent and men are 53.9 percent. The unemployment rate in Nepal is 10.70 percent. Gyawali also said that 61.21 percent of the labor force is getting employment in agriculture, 21.24 percent in services and 17.56 percent in industry.
According to him, 62.2 percent of the workforce is in the formal sector and 37.8 percent in the informal sector. He said that the labor force participation rate in Nepal is only 40 percent. In other countries, the labor force participation rate is over 70 percent. He said that it is necessary to increase it.
'It is important to find out where the fundamental gap is in terms of increasing production and productivity,' he said, 'We have not been able to go into the employment-oriented or skill-oriented education system. There is a large drop out rate. We have said that we will conduct professional and skill development programs. That has not happened either. On the other hand, the manpower produced from it is not getting employment.'
He says that there are various productive sectors including energy, information and technology, agriculture, tourism, manufactures. He said that even though there are plenty of productive areas, they have not been able to use them. He believes that the current human resources should be used in a competent and skilled manner. "Now we have enough human resources, if we don't use these human resources for the next 10 years, this population will grow towards old age," he said. He said that although human resources, policies, regulations and infrastructure are necessary, they can be delivered internally. But capital and technology should be brought from outside and used, he said.
