Despite Bhutan’s goal of boosting the digital economy to contribute USD 300M to GDP by 2029, the IT sector remains ineligible for loans under the Economic Stimulus Programme. The Finance Minister explained that ESP loans are focused on sectors that directly support production and import substitution, categorizing the IT sector as part of the excluded services.
As of last month, the Economic Stimulus Programme has given money through Window-I and II.
Window-I approved some 260 out of more than 1400 applications and gave out Nu 198.36 M. Window-II, called the Reinvigoration Fund, approved 13 out of nearly 90 applications disbursing Nu 87.73 M.
The minister said both programs mainly focus on helping agriculture, livestock, and manufacturing, while the trading and service sector has not been included.
“We have not included the IT sector since it falls under the service sector. However, if it is production and manufacturing, it should be included. We are working on it,” said Finance Minister Lekey Dorji.
Regarding the digital economy’s contribution, the minister said that the support is channelled through separate initiatives.
“In the 13th FYP, we have allocated Nu 10bn ngultrum to GovTech Agency to support the digital economy and strengthen enablers. In the 2024-25 fiscal year, we have allocated Nu 100M to the Ministry of Industry, Commerce and Employment to support digital content creation, skilling, and upskilling of professionals from the Film, Music, and OTT sectors ”
He also said more than Nu 67 M has also been allocated for start-up activities in this financial year.
DekiLhazom/ Karma S Wangda
Edited by Tandin Phuntsho
