KATHMANDU: Prime Minister KP Oli has announced that at least 500 entrepreneurs will be provided with ‘startup’ loans this year to help empower youth and encourage entrepreneurship.
In response to lawmakers’ questions during today’s House of Representatives meeting, he shared that the selection process for interested applicants in the subsidized loan program is nearing completion.
The initiative aims to promote startup-based entrepreneurship development by fostering creativity and innovation, with attractive interest rates for investors.
PM Oli further highlighted that the government recently organized a national labor and employment conference to establish a sustainable foundation for internal employment by expanding production and productivity in the country.
He noted that migration for business, employment, and education is a global trend as the world has become a global village.
“The issue of youth brain drain should not be viewed entirely negatively. In the past, livelihood options were limited, but now the opportunities have expanded. Our youth are taking advantage of the freedom to choose any country they wish,” the Prime Minister explained.
However, he emphasized that the government is actively working on creating more employment and entrepreneurial opportunities within Nepal.
PM Oli also mentioned that the government has implemented policy and legal reforms, as well as business-friendly laws, to create a favorable investment environment.
These efforts aim to attract foreign investment, boost internal investments, create employment by increasing production and productivity, and reduce the trade deficit by promoting exports.
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