Catalyzing Bhutan’s Cottage And Small Industries As An Important Driver of Economic Diversification

Email

Till date, there are 20,908 cottage and small industries which generate 96,177 jobs in Bhutan.

(Source: Behance.net)

 

By Karma Chuki Namgyel | The Bhutanese

According to the State of the Nation Report, cottage and small industries in Bhutan is regarded as a priority sector. Till date, there are 20,908 cottage and small industries (CSIs) generating 96,177 jobs. The number has increased by 1,297 in the last year.

CSIs have the potential to narrow the income gap through economic diversification. The focus on boosting economic activities in villages and local communities can also help to enhance rural income and engage Bhutan’s growing young population productively, as stated in the report.

The districts of Paro, Dagana and Trashigang have been identified as the three industrial sites where youth can start their own cottage and small industries.

 

 

Source: Map of Bhutan

 

Meanwhile, the preparation of a detailed project report for the establishment of a CSI estate in the district of Tsirang has also been completed.

Active steps taken to promote cottage and small industries in Bhutan

To nurture entrepreneurs, 27 start-ups were hosted in the newly established Start-up Centre and another eight more in the old service centre at Changzamtog.

So far, the government has taken certain initiatives to promote cottage and small industries, such as approving Start-up and CSIs as a flagship program in the 12th Five Year Plan, which is projected to create 4,700 jobs.

To boost the business climate in Bhutan, a developed priority sector lending application system is now easily accessible to everyone using the G2B portal to leverage on the use of information and technology.

 

Tshomen Blue - Tshomen means 'mermaid' in the Eastern Bhutanese language, Sharchop. 

Photo: Bhutan Natural

 

In addition, a handmade handicraft textile has also been selected to facilitate the export of horticulture and textile handicraft products through Brand Bhutan.

This will provide more opportunities for artisanal handicraft producers to sell their products. Moreover, exporters can learn and gain more experience by participating in international trade exhibitions and study visits abroad.

To support the agricultural sector, the government has also initiated a government-buy-back mechanism where farm shops and the Food Corporation of Bhutan will grade and buy products from the farmers.

Coming soon - Bhutan Economic Forum for Innovative Transformation

Going forward, the Bhutan Economic Forum for Innovative Transformation (BEFIT) is slated to be held in July 2019.

Initiated by the Ministry of Economic Affairs, in close coordination with the Royal Monetary Authority of Bhutan, the theme will be ‘Catalyzing Bhutan’s CSI Sector as an Important Driver of Economic Diversification’.

 

This article first appeared in The Bhutanese and has been edited for Daily Bhutan.

 


Related Posts

3rd Gakyed Gatoen - Festival Of Happiness Held As A Tribute To...

The 3rd Gakyed Gatoen - Festival of Happiness was held in Thimphu, Bhutan on 14 February 2019.

Feb 16, 2019 17:31

Cottage And Small Industry Which Saw 20% Growth Is A Pillar Of...

To date, the CSIs constitute more than 90 percent of Bhutan’s industry sector.

Jul 19, 2018 13:46

A Peek Into The Proposed Draft Of Bhutan’s Foreign Direct...

The process of FDI approval and clearances will be fast-tracked.

Jul 03, 2019 23:58

Bhutan’s Foreign Direct Investment Saw 10 Fold Increase From...

The jump in figure is due to the large number of capital-intensive projects (such as hotels) being approved in 2018.

Feb 24, 2019 13:51

Bhutan To Revise 3rd Foreign Direct Investment Policy To...

Most of the FDI companies are in the hotel sector today, therefore it is important for us to diversify.

Mar 29, 2019 18:32

Bhutan – A Hidden Gem For Foreign Direct Investments

Of the total FDIs, 65 percent of the investors are from Asia, 25 percent from Europe, nine percent from America and the...

May 24, 2018 16:58

Latest

News

Bhutan Marked 100th Anniversary Of Save The Children, Highlighting Its Contributions

Save the Children office in Bhutan celebrated its 100th anniversary on 20th of September 2019.

Sep 21, 2019 23:08

Bhutan Is On Track To Achieve The 17 UN Sustainable Development Goals

Last year, the Voluntary National Review of Bhutan to UN found that except for networking and economic vulnerability, the country was on...

Sep 20, 2019 20:38

Features

Reconstruction of Lingzhi Dzong – Built To Commemorate Bhutan’s Victory Over A Tibetan Invasion In 1668

To date, about Nu 13 million has been spent since preparatory works for the Lingzhi Dzong construction which began 15 months ago.

Sep 14, 2019 23:58

True Purpose of Rituals And Their Importance In Buddhism

Rituals are an indispensable way of life for a Bhutanese household and families are known to spend a fortune on them.

Sep 13, 2019 12:11

Sports

Bhutan’s Pelden Wangchuk Wins 10th Edition Of Tour 0f Dragon Mountain Bike Race

This year, the race also saw the highest number of female participants compared to past years.

Sep 10, 2019 01:08

Tour Of The Dragon – Toughest One Day Bike Race Starts On 7 September In Bhutan

It takes sheer toil and stamina for the top riders to complete the 268 km race which finishes at the capital, Thimphu.

Sep 06, 2019 23:58

Business

Sherza Ventures Limited Launched IPO, Aims To Establish Brand Bhutan Products Globally And More

Sherza Ventures Limited aims to be a hyper retail and wholesale trading venture using e-commerce.

Sep 09, 2019 10:58

iMerit Bhutan Launched, Hopes To Create Far-Reaching Socio-Economic Impact

iMerit strives to drive social and economic change by tapping into an under-resourced talent pool, thereby creating digital inclusion.

Sep 04, 2019 10:58

Travel

Plans In The Pipeline To Develop Trongsa For Tourism

“The people of Trongsa were very supportive of the tourism development concept for the locality.”

Sep 05, 2019 14:48

7 Facts You Never Knew About Flying Into Bhutan

Druk Asia interviewed Namgyal Wangchuk, Senior First Officer with Drukair to find out what it's like to fly into Paro International Airport.

Aug 07, 2019 23:18

Lifestyle

A Blend Of The Traditional And Contemporary – Showcasing The Best Of Bhutanese Products

The designers showcased their products at the RTA gallery on 18 September which was graced by Her Majesty the Queen Mother Sangay Choden...

Sep 19, 2019 23:50

7 Vegetables You Must Try While Visiting Bhutan

Read Tashi Choden's blog on the vegetables to try if you ever visit Bhutan.

Aug 31, 2019 16:43

Subscribe to our newsletter

Never miss out on new happenings and news stories!