Nepal’s export competitiveness To fully utilize the substantial market access concessions it already has and to boost exports, Nepal needs to significantly improve its supply-side capacities. This will require adequately addressing the crippling constraints—lack of adequate and quality infrastructure; political instability and strikes; recurring labor disputes; lack of skilled human resource; deficient research and development; and policy inconsistencies and implementation paralysis— to industrial activities, and a timely and effective implementation of the policies and sectoral strategies that are already in place. The country also needs to properly utilize the technical assistance offered through various financing windows by multilateral and regional trading blocs, and development partners. This will also help boost private sector activities in export-oriented sectors, which is mostly dominated by small and medium enterprises. In the long term, along with improvements in the investment climate, the government will need to substantially increase investment in energy, transport corridors, skills development, technology transfer and adoption, supportive regulatory and institutional frameworks including SEZs, and overall stable macroeconomic environment. These are critical for product and market diversification as well as product sophistication to stay competitive and to make exports an important driver of inclusive growth, which is essential to absorb an estimated 633,000 new entrants annually to the job market by 2020. More here: goo.gl/3vDPxx
Posted on: Sat, 15 Mar 2014 12:17:00 +0000
Trending Topics
Recently Viewed Topics
© 2015