Bhutan has unveiled its Invest Bhutan Web Portal in a bid to attract Nu 500 billion in foreign direct investment (FDI) by 2029. The portal, launched on August 16, is designed to offer investors a comprehensive resource on investment opportunities and regulations within the country. It supports over a hundred languages, making it accessible to a global audience.
Director General of the Department of Industry, Chhime Tshering, emphasized that the portal is a strategic move to improve the investment landscape in Bhutan. “Our goal is to provide an optimal user experience and address current investor challenges. This initiative aims to enhance the ease of doing business and attract significant foreign capital inflows,” he stated during the launch event.
Bhutan’s FDI has seen steady growth, reaching Nu 48.61 billion last year. The hotel industry has been a major recipient, accounting for 34.9% of the total FDI, followed by IT and IT-enabled services, which garnered 21.7% in 2023.
Minister of Industry, Commerce, and Employment, Namgyal Dorji, highlighted the critical role of capital in fostering industrial development, especially given the country’s limited domestic resources. “Achieving our target of Nu 500 billion in FDI by 2029 requires a conducive environment supported by robust policies and strategic plans,” he said. “We are confident that our efforts will bear fruit.”
The Invest Bhutan Web Portal, developed with support from the Asian Development Bank, aims to address the gaps in information and connectivity that investors often face. The Department of Industry, as the primary Investment Promotion Agency, will use the portal to promote Bhutan as a prime destination for foreign investments, providing essential details on business opportunities and regulations.
The portal features information on various sectors including agriculture, IT and IT-enabled services, construction, livestock, wood and furniture, and education and skilling. For instance, it highlights opportunities in wood-based panel production with an investment limit of Nu 300 million in Paro, Sarpang, and Thimphu. Similarly, there is a Nu 50 million cap for investment in construction material manufacturing in these same locations.
In the IT sector, the portal outlines opportunities for setting up software development companies with a foreign investment requirement of up to Nu 50 million. Incentives for these ventures include a skilled workforce from local universities, tax holidays, and subsidized office space in IT parks.
For educational ventures, such as smart learning and training centers, an investment threshold of Nu 100 million is specified, with potential locations in Paro, Punakha, and Thimphu. Benefits include subsidized digital infrastructure and access to government educational programs.
Agricultural investments are also featured, such as a fertiliser production plant requiring Nu 50 million, and a rainbow trout farm with a Nu 40 million investment in Haa, Paro, and Punakha. These projects come with various incentives, including subsidies on fingerlings and feed, tax holidays, and market access.
The Invest Bhutan Web Portal represents a significant step forward in Bhutan’s efforts to attract and facilitate foreign investments, aiming to strengthen its economic landscape and achieve its ambitious FDI goals by the end of the decade.
