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The number of Nepali workers leaving the country for foreign employment has soared to 480,990 in the first 11 months of this fiscal year according to recent data released by the Nepal government.
349,943 among them were going abroad for the first time while the remaining 131,047 were repeat Nepali migrant workers. This surge in the flight of Nepali manpower from the country is linked to political turmoil, sluggish growth in jobs, unfavorable business environment within the country and more lucrative salaries and perks offered by the destination countries.
Nepal saw a steep 39 % decline in investments in new businesses as of the 10th month of this fiscal year to Rs 48.84 billion from last year’s figure of Rs 79.76 billion. Commitments of foreign direct investment (FDI) also decreased by 31.03 % during the first nine months of this fiscal year from last year’s figure for the same period of time. The FDI figure stands at Rs 5 billion over the period in comparison to Rs 7.25 billion last year.
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