BOiC to open up business opportunities

Aug 27, 2014

The much debated Business Opportunity and Information Centre (BOiC) has officially come into existence. With this, Bhutanese will now be able to access loans to a maximum of Nu. eight million to start business entities.

The Finance Ministry and the Royal Monetary Authority released Nu.1.9bn from the Economic Stimulus Plan for the Centre.

Lyonchhen said that every individual should take the opportunity to avail themselves of the services and help contribute to the country’s economy.

“From the total fund of Nu.1.9bn, Nu.1.5bn will be for cottage and small manufacturing industries which will create at least 3,000 jobs. And the rest is for non-formal rural activities that will guarantee about 4,000 jobs,” says Lyonchhen.

The Minister for Economic Affairs, Norbu Wangchuk says, “there is no free money, we are not going to dole out free money. The loan that we provide, the fund service that we provide has to be accounted for it is the resource of public. The responsibility and the mandate of managing this resource is resting upon the BOiC.”

The BOiC was formally launched by the Prime Minister Tshering Tobgay and the Indian Ambassador to Bhutan Gautam Bambawale.

The Prime Minister also launched an official website of the centre.

The BOiC was established in December, last year, as a time-bound autonomous agency to promote the growth of cottage and small manufacturing activities and non-formal rural activities within the country.