Kathmandu, June 14: The lack of skilled workforce for industrial sector, insufficiency of raw materials and market issues for produced goods have been highlighted as major concerns for the industrial development in Nepal.
According to a study conducted by the Nepal Rastra Bank (NRB), capital insufficiency, high production cost, technological backwardness, lack of full efficiency, brain drain and problems in management and operation of environment-friendly industries have been depicted as other challenges for the industrial development.
The document highlights urgency to accelerate the development of industrial infrastructure, increase industrial production and productivity, ensure proper management and supply of raw materials, enhance the competitiveness of domestic products and diversify export-oriented goods.
These have been citied in a report issued by the Central Bank. According to the report, industries based in the Karnali Province face various problems including capital insufficiency and challenges for marketization for their sustainability.
A large number of youths involving in foreign employment have been cited as one of key factors behind industries facing the shortage of required skilled and technical workforce.
According to the study, since the Madhesh Province is a hub for production of rice, wheat, maize, sugarcane, oilseeds, vegetables, fruits, dairy products, there is significant potential for the expansion of agro-based industries, food processing industries, sugar industries, dairy industries, edible oil industries, rice mills and animal feed industries.
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