There are now thousands of students from Nepal attending various universities and colleges in the US alone. Nepali professionals in universities, scientific laboratories, and consulting firms in the US and Canada have been growing steadily in number.
Similarly, low and medium skilled Nepali workers are also leaving the country in record numbers to work abroad in places like the Middle East and the Far East. The total non-resident Nepali (NRN) population is estimated to be around 1.2 million, of which 70 to 80 thousand live in North America. Members of Nepali Diaspora have also begun to venture into business and entrepreneurial sectors. Many have begun to invest in Nepal. An estimated figure close to $1 billion of remittance from the Diaspora is not a trivial figure for a small economy like Nepal.
POA Foundation believes that a country like Nepal should try to emulate India and other developing countries to take advantage of the financial and intellectual resources of its Diaspora for national development. Creating conducive environment for such a transfer should be the priority of the government of Nepal.
POA Foundation’s chairman Mr. Aditya has been very a strong supporter of the NRNA (Non-resident Nepali Association) movement. His idea of a $100 million NRN driven venture fund has been well received by the NRNA organization. POA Foundation plans to explore ideas to promote policies to facilitate such transfers in the areas of financial and technological innovations, smart investments, philanthropy, and professional and intellectual assets. POA Foundation appreciates the creation of the Nepal study Center at the University of New Mexico for its dedication in fostering a concept of Global Scholarly Network and knowledge transfer.