Entrepreneurship fundamental to sustainable growth: US ambassador

KATHMANDU, March 28:

The ambassador of the United States to Nepal Peter W Bode has argued that the government should promote entrepreneurship within the country rather than focus on development aid for economic development. Speaking at a talk program held by the South Asian Institute of Management (SAIM) in Lalitpur, he stressed the importance of entrepreneurship to generating more employment and stimulating growth.

“Entrepreneurs have a key role to play in Nepal’s sustainable economic growth,” Bode said adding, “Businesses will have to provide investment, innovation, and employment to stimulate growth, increase productivity, and lift millions of people out of poverty.”

He also warned that Nepal could not afford to build its economic future on labor export. Nepal can easily retain the young people by developing entrepreneurship within the country, he said.


“Entrepreneurship is more necessary in the developing world,” Bode told students of SAIM, “The country that has economic opportunity for its people will also have stronger democracy and greater political stability.”

Bode said that the United States is also nurturing and developing entrepreneurs after the failure of the big companies in the wake of the global economic crisis. “None of us can predict with certainty what the next big industry will be or where new jobs will come from,” he quoted US President Barack Obama as saying about entrepreneurship.

    
Source: Republica