Bhutan is keen to attract more investors from India according to Prime Minister, Tshering Tongay. The Prime Minister, in a business meeting with representative of India Association Chambers of Commerce and industry, urged Indian private sector to invest more in Bhutan.
Lyonchhen said Bhutan has a competitive advantage to investors for the India companies to invest in Bhutan. He said political and economic stability, peace and security, and zero tolerance to corruption are some of the advantage investors can enjoy in Bhutan. Education, health, tourism and hospitality, IT and financial services are some of the sectors investors can invest. To attract investors from India, Prime Minister sad Foreign Direct Investments’ regulations have been made conductive to Indian investors.
“There is immense scope to further deepen the level of economic cooperation at the business-to-business level as well as in partnership with the government to participate meaningfully in the industrialization process of Bhutan and to reap mutual benefits,” said the Prime Minister.
Lyonchhen also said for Bhutan FDI is important to sustain growth, to benefit from innovations and advance technology, good management practices, assured market, foreign exchange earnings, employment and income generation.”
The Prime Minister said the inter dependence of two countries, strong friendship and goodwill provides strong foundation for the private sectors to work together.
The Indian Minister of Commerce and Industry, Anand Sharma, said the two countries have the potential to do more when it comes to private sector development. “When we look at the trade, four fifth of the export from Bhutan are to India because we are the immediate neighbor. It is moving close to 500 million USD.”
However, Anand Sharma said, it is below the potential. “Particularly if you look at what can be achieved by investing in your economy, ensuring value addition in critical sectors, particularly the agriculture sector, also working together for the promotion of tourism, communication and IT.”
