SMEs for sustainable economic growth : Minister Thapa

KATHMANDU,July 30:

Minister for Industry Karna Bahadur Thapa has emphasized the need to promote Small and Medium Enterprises (SMEs) to acheive sustainable economic growth.

 Inaugurating a program titled ´Reviewing Informal Sector Enterprises in Nepal: Challenges and Way Forward´ jointly organized by International Society for Small and Medium Enterprises (ISSME) and Nepal-Kuwait Chamber of Commerce and Industry on Wednesday, Thapa said the government has recognized the SMEs´ role in job creation in rural and semi-urban areas.

"SMEs are the backbone of Nepali economy,” Thapa said, adding, "It has played a big role in job creation especially for women.” Speaking at the program, Surendra Bir Malakar, South Asia vice president of the ISSME, said 80 percent of the industries in Nepal are cottage and small industries.

 Malakar also said the government should encourage cottage and small industries by providing tax incentives.

Source: Republica