The Minister for Energy and Natural Resources (MoENR), Loknath Sharma said that the government will continue and expand investment in start-up businesses aimed towards youth skilling and employment.
He said that the ideas from entrepreneurs could be brought into businesses through the government’s assistance. “Support from the government would inspire the entrepreneurs and help in enterprising Bhutan in the long run.”
Lyonpo said that over the years, the government has supported building incubation centres in Thimphu and Samtse, the opening of Cottage and Small Industry Market in Thimphu and soon in Paro are examples of support from the government.
Supporting the entrepreneurs, according to Lyonpo, make things easier for them in “enhancing the skills among the youth.”
“The government will continue to provide industrial development grants as well as support with machinery for the entrepreneurs,” he said. “The production fares and CSI fares that are made easier and wholesome for the Bhutanese entrepreneurs will help in enterprising Bhutan.”
The Ministry of Industry, Commerce and Employment (MoICE) registered 12,682 job-seekers in the fiscal year 2021-2022.
The Cottage and Small Industry accounts for about 95 percent of the total industries in the country. The CSI department licensed 26,945 CSIs in the country as of 15 June 2022.
According to Labour Force Survey Report, 2021, the unemployment rate is highest in Thimphu at 10.1 percent followed by Paro with 7.7 percent and lowest at 1.5 percent in Bumthang, Dagana, Gasa, and Zhemgang.
The youth unemployment rate is 20.9 percent of which 38.6 percent are male while 61.4 are female.