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The government has made efforts to attract foreign investment and as of August 16, it launched an online system for investing in Bhutan.
The system can communicate in more than 100 languages and they will also gain comprehensive experience and understanding of Bhutan’s foreign investment regulations.
Foreign investment in Bhutan reached Rs 48.61 billion so far last year, of which 34.9% was received by businesses and 21.7% by IT companies.
Speaking at the launch ceremony, Minister of Industry and Trade Chimed Tsering said the system was designed to provide a better experience for investors to resolve current issues and “it has done that”.
He said foreign investment would boost business, “It’s just about encouraging people.”
Minister of Industry, Trade and Labor Namgyel Rinpoche said the country has limited capital investment and “investment is very important for the development of the industry.”
He said the policy aims to achieve foreign investment of Rs 50,000 crore and plans and projects will be implemented to improve the situation, “I hope it can be achieved.”
By 2023, the Bhutan People’s Property Fund (BPPF) will generate after-tax profits of 4 trillion rupees, or $8.42 billion, an increase of 68.5%.
The Ministry of Industry and Trade is an investment promotion agency and Bhutan should be an investment promotion agency for foreign investment and an investment destination for foreign investment that requires investment marketing opportunities.
According to the Ministry of Commerce, priority items in the 2019 foreign investment policy are determined, but there is no market information related to the enterprises that can help investors make decisions.
Investors are not aware of competing FDI policies, acquisition issues, processes and motivations Internal partners have insurmountable challenges in interacting with external partners.
The system is supported by the Asian Development Bank (ADB) in the fields of agriculture and information technology. 75% Education and Skills It creates investment opportunities for the country.
Investment of $300 million will be allowed in wood products identified in Paro, Gsarpang and Thimphu.
Construction material factories are allowed with an investment of only Rs 50 crore and the locations identified are Paro, Thimphu and Gesapang.
Foreign investment of up to Rs 5 crore is allowed to set up software companies, and incentives include technical personnel from local universities, tax exemptions and the need to set up offices in IT parks.
An investment of Rs. 100 million will be made to establish modern learning and training centres at Paro, Thimphu and Punakha with the following exceptions:
The plan includes incentives, discounts on digital infrastructure, as well as government education programs and tax exemptions.
Agriculture sector to invest Rs 50 million to set up fertilizer production plant This opportunity is available only in the designated areas of Paro, Thimphu and Gesapang.
Besides, Ha, Paro and Spunakha have invested Rs 4 crore and they will also get fish feed, fish fingerlings, marketing opportunities and tax exemption.
Ugyen Dorje
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