The labour ministry is expecting to create nearly 3,500 jobs in the country by prioritizing entrepreneurship as a flagship programme in the country. The government has approved a budget of Nu 1.2bn. This was shared by the Labour Minister at the first ever National Entrepreneurship Congress that began today.
During the panel discussion, the labour minister shared that the ministry will spearhead the entrepreneurship flagship component while the economic affairs ministry will spearhead the development of cottage and small industry. From total budget allocated, entrepreneurship development has a budget of Nu 320 M. And under that program, the ministry plans to train over seven thousand aspiring entrepreneurs over the next five years and establish nearly 650 start-ups. The ministry also plans to establish five incubation centres across the country to support start-ups.
“We are talking about the problem of youth unemployment which is increasingly talked about as the number one challenge in the country. And let’s talk about our economy, talk about all the aspects of development in our country, I think we are faced with serious challenges. And to solve these challenges, I don’t see any other solution than entrepreneurship,” Ugyen Dorji, Minister for Ministry of Labour and Human Resources, said.
“I think we all have to be enterprising and entrepreneurs as citizens to be able to survive and thrive as a country in the 21st-century world. That is why entrepreneurship in the coming years, from the ministry of labour and human resources and the government’s side, I think we are prepared to give entrepreneurship a priority.”
Meanwhile, the economic affairs minister shared that the cottage and small sector policy will come soon which will facilitate capacity development, technology enhancement and help in strategizing marketing plans. While a lot of programmes are in place to enhance entrepreneurship in the country, a few of the entrepreneurs who have already begun their journey shared that despite challenges in the entrepreneurial journey, it has a good potential in Bhutan.
“Let me share my favourite quote from His Majesty The King. He has mentioned that ‘what we need is not the leader of the masses but we need leadership in self.’ So I think it depends on self to actually go out and lead your own life rather than having to depend on government agencies to employ you. And right now entrepreneurship can play a major role in creating opportunities.” Tshering Denkar, Denkar’s Gateway, said.
“It’s not only about being an employee, but it’s also about creating jobs. Why don’t you be an employer rather than being an employee? When you can help the government to reduce the unemployment rate when you can come up with new ideas rather than focusing on being a civil servant, why don’t you be an entrepreneur?” Jigme Singye, Happy Delivery, added.
Organized by iHub Bhutan, it is also the first event to be organized, managed and executed by the entrepreneurs themselves. iHub Bhutan is a service provider that supports and enables entrepreneurs to start and grow in their business. The National Entrepreneurship Congress is expected to motivate and encourage aspiring start-ups to follow their passion thus stimulating self-employment. The two-day event is a platform bringing both entrepreneurs and relevant stakeholders together to shape the Bhutanese entrepreneurial system.