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ILO launches project to formalize economy

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KATHMANDU, Dec 10: The UN International Labor Organization (ILO) has initiated a project “Way out Informality: Facilitating Formation of Informal Economy´s focusing programs aimed at formalizing informal economic activities in three South Asian nations-Nepal, India and Bangladesh.



A press release issued by ILO- Nepal office said the five year project intended to facilitate formal economic activities and employment in the targeted countries.[break]



“The project will build on the on-going activities of the government, the private sector and the social partners to enhance the chance of sustaining the same activities promoted under the project,” the release said.



ILO in association with the Ministry of Labor and Employment hosted a joint workshop on Monday to share the experiences related to the proposed programs under the project. The project is funded by the Japan government through ILO´s Japan Multilateral-Bilateral program.



“This initial workshop launches the project in Nepal and shares international good practices of integrated and sectoral approaches promoting and enabling formalization,” adds the release.



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