The private sector development project in Bhutan has exceeded expectations, the World Bank says. The US$ eight million project was funded by the World Bank to develop IT skills and strengthen the financial sector through information technology.
Under the private sector development project, more than 1,300 people were trained in the field of information technology and other related activities. About 900 are already employed in various sectors, 200 more than the expected employment target.
The IT Park, one of the components of this project, has leased 50 percent of its commercial space to two international companies. Similarly, 13 companies have been successfully incubated at the IT Park. The target was five. Three incubates have completed their gestation period from the Bhutan innovation and technology center as well.
An analytical skills and language enhancement course, and video conferencing facilities in all colleges under the Royal University of Bhutan were also initiated under this project.
Among other achievements, the Royal Securities Exchange of Bhutan accomplished 100 percent automated stock exchange trading, and realised full coverage of the financial literacy programme in all dzongkhags.
Speaking at the press conference yesterday, a senior economist with the World Bank said the jobs created from the project are among major achievements.
“Over 1000 young Bhutanese have actually got job in the private sector through this project. In fact more than 50 percent are women. They come from all over the country, they are less than 24 years old, and they have university or class 12 degree. We in fact met with this week. It has been credible to listen to their life story how the training that they have received through this project changed their lives,” said Cecile Thioro Niang, the Senior Economist with the World Bank.
The Information and Communications’ Secretary, Dasho Kinley Dorji, said ICT will be a priority area as it will not only help create employment but also encourage entrepreneurship. “The next step we are looking at people who will create employment for themselves, self-employment. We are changing the interpretation of employment itself,” said Dasho Kinley Dorji.
The World Bank will continue to support corporate governance, capacity building for public-private partnership, and also work on the investment climate to facilitate government efforts for business in Bhutan.
