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Entrepreneurship fundamental to sustainable growth: US envoy

The ambassador of the United States to Nepal Peter W Bode argued that the government should promote entrepreneurship within the country rather than focusing on development aid for economic development.

Speaking at a talk programme organised by South Asian Institute of Management (SAIM) in Lalitpur today, he also stressed the importance of entrepreneurship in generating more employment and stimulating growth.

“Entrepreneurs have a key role to play in Nepal’s sustainable economic growth,” Bode said, adding that 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 labour export. “Nepal can easily retain its youth by developing entrepreneurship within the country,” he added. “The country that has economic opportunity for its people will also have stronger democracy and greater political stability.”

Quoting US President Barack Obama, Bodde said that none of us can predict with certainty what the next big industry will be or where new jobs will come from.