| English | Dzongkha | Sunday, August 25, 2019 |
With the Mangdechhu Hydroelectric Project nearing completion, Trongsa’s local economy has taken a back seat. For about a few months now, the earnings have been shrinking leaving the town’s business community apprehensive.
Construction Industry is the frontline of the economy in any developing country. For a small economy like Bhutan, being a member of International Associations has always been an advantage. Bhutan became the full-fledged member of International Federation of Asian and Western Pacific Contractors Association (IFAWPCA) in 2018. And as its youngest member, Bhutan hosted the association’s Executive Board Meeting in Thimphu, which concluded yesterday.
After the opening of the Damchu-Chhukha bypass in July last year, the Tsimasham town has almost dried up. The town, which was once a popular place for travellers to stop for lunch, now hardly gets any visitors. But now, the locals hope to attract tourists as a group of students work to promote the place, as part of their project-based learning.
Farmers in the auction yard of Food Corporation of Bhutan (FCB) in Phuentshogling are not happy with the price of carrot this year. The bountiful production of carrots this time is hampering the price during the auction.
The heavy rainfall causing landslides, flash floods and roadblocks is now hampering the sale of Om Nyamley Tshogpa, a milk group in Gomdar Gewog, Samdrup Jongkhar. With the gewog center road blocked for more than two weeks, the milk group was not able to transport their milk to Samdrup Jongkhar town for sale.
The increasing number of business establishments, fewer customers, and competition with businesses in the neighbouring Indian town has the business owners in Samtse worried about their future prospects. Some say they may even have to close their shops if sales keep on dropping.
The government has identified Cottage and Small Industry (CSI) sector as one of the important jewels in driving Bhutan’s economic diversification. It is also one of the largest sources of domestic production and employment.
To drive Bhutan’s Economic diversification by catalysing cottage and small industries, the Royal Monetary Authority (RMA) and the Royal Institute for Governance and Strategic Studies (RIGSS) are organising its second international conference, Bhutan Economic Forum for Innovative Transformation (BEFIT) starting yesterday in the capital.
The Economic Affairs Ministry launched the revised Cottage and Small Industry (CSI) Policy 2019, Foreign Direct Investment (FDI) Policy 2019 and E-commerce guidelines at the Bhutan Economic Forum for Innovative Transformation (BEFIT) conference yesterday.
The vendors of the craft market in Samdrup Jongkhar Thromde are unhappy with low sales without any visitors. The craft market opened about five months ago, to promote tourism in the dzongkhag. It was constructed at a cost of Nu 6 M.