Thinley Namgay
In a move to double the nation’s gross domestic product from USD 2.5 billion to USD 5 billion by 2029, the government is emphasising the vital role of entrepreneurship and business as key drivers of this “ambitious” goal.
However, concerns linger regarding whether entrepreneurs are receiving sufficient support from the government to enhance their business environment.
Currently, Bhutan has 18,641 active business licence holders, with large-scale enterprises constituting just over one percent of this total. Medium-scale businesses account for 3.6 percent, while the majority fall under cottage and small industries (CSIs), with small-scale industries making up approximately 70.59 percent of this sector.
These insights were highlighted during the first day of the 2024 Druk Tshongrig Gatoen (DTG), which kicked off yesterday in Changzamtog, Thimphu, under the theme “Innovate to Elevate: Knowledge-Driven Entrepreneurship for Social Impact.”
The Loden Foundation is hosting this two-day event in collaboration with the Ministry of Industry, Commerce, and Employment, FAO Bhutan, Impact Hub Thimphu, and other partners.
DTG is a vibrant celebration of Bhutan’s entrepreneurial spirit, reflecting the government’s and the Loden Foundation’s dedication to fostering entrepreneurship.
Since its inception in 2018, DTG has emerged as Bhutan’s premier platform for promoting socially responsible businesses and empowering the next generation of entrepreneurs. The event facilitates knowledge exchange, encourages collaborative exploration, and showcases innovative ventures.
Labour Secretary Tashi Wangmo emphasised the uniqueness of DTG, noting that it not only serves as an essential platform where innovation intersects with social responsibility but also aligns closely with the nation’s developmental goals.
She highlighted Bhutan’s ambitious journey towards economic development, aiming to double its GDP by the end of the 13th Plan, with just four years remaining to realise this objective.
Tashi Wangmo noted that the existing CSI market in Thimphu sources products from over 300 CSIs, indicating a promising trend.
“This shows that something is happening,” she said, underscoring the government’s commitment to entrepreneurship, particularly in supporting young entrepreneurs, acknowledging their critical role in diversifying the economy, combating unemployment, and addressing urgent social and environmental challenges.
Yeshey Samdrup from the DTG committee highlighted that this year’s event will feature more presentations and sessions focused on business and entrepreneurship, allowing approximately 50 entrepreneurs to share their insights and pose questions to officials from relevant agencies.
One of the unique aspects of this year’s DTG is the celebration of food and agriculture, further emphasising the importance of these sectors in the nation’s economic landscape.
DTG showcased 30 stalls featuring a diverse array of products, including agricultural items, religious artifacts, arts and crafts, food, as well as health and wellness products.
Among these, six stalls were new participants: Jinlab Agro Products, Serkar Dairy, Dappa Meat Snacks, Bio Mulchifier, Bhutan Blossoms, and DSP Bakery.
One notable innovation was the Bio Mulchifier, developed by a group of Class XI Science students from Yangchenphug Higher Secondary School.
This product converts degradable waste into nutrient-rich manure for flower pots and kitchen gardens. Team member Devi Ghalley explained that the Bio Mulchifier aims to reduce waste on the school campus.
“In the long run, it will have an impact on society. We haven’t been able to outsource the idea yet, as it is relatively new. We will collaborate with relevant agencies to scale it up,” she said, highlighting the project’s potential to address environmental challenges while fostering sustainability.
At DTG, bags of manure were available for purchase, priced between Nu 40 and Nu 100.
Sonam Dorji, an avocado vendor from Mongar, shared that he and a friend had gathered approximately 800kg of avocados from the community to sell at the event. By noon yesterday, they had sold around 40kg, with prices ranging from Nu 200 to Nu 250, depending on the quality.
“In Mongar, there’s no market to sell all avocados in a season, which discourages farmers from working hard,” he said.
Despite a good harvest this year, Sonam Dorji noted that fruit diseases had significantly impacted yields. “The gewog and Dzongkhag also don’t have many solutions for these issues.”
Dilu Pradhan from Jinlab Agro Products said that although their products were based in Tsirang, their main customers were residents of Thimphu. She highlighted the difficulties in obtaining product certification from the government, stating, “We could only export some of our products through the CSI market in Thimphu.”
Deo Kumari, an entrepreneur from Chukha, expressed the need for the government to create more markets. Her group sells dried vegetables. “ Business is not picking up. It may also be due to the fact that our business is new.”
At the event yesterday also launched tshongrig.com, which will serve as an information portal for entrepreneurs and startups to support the entrepreneurial ecosystem in Bhutan.