PM graces the opening of GEW in Bhutan with good news gift to entrepreneurs

Posted on: November 18th, 2013
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Prime minister of Bhutan, lyonchen Tshering Tobgye at speaking at the opening of the 2nd GEW in Bhutan

Prime Minister of Bhutan Lyonchen Tshering Tobgye graced the opening ceremony of 2nd Global Entrepreneurship Week in Bhutan organized by the Loden Foundation today at the City Cinema hall in Thimphu.

He was accompanied by the minister for Labour and Human Resources Lyonpo Neegma Sangay Tsenpo and minister for Economic Affairs Lyonpo Norbu Wangchuk and other senior government, corporate and private officials.

Lyonchen addressing the gathering of about 200 participants of young entrepreneurs, expressed his happiness for seeing so many youths gathered for a weeklong programme. “The very fact that you have come with interest in this initiative means you are very much on your way to entrepreneurship,” Lyonchen said.

Lyonchen (Prime minister) also took the opportunity of the platform to announce a few new government initiatives to support young entrepreneurs as a good news for the emerging entrepreneurs.

Lyonchen announced that his government has decided to put aside Nu. 1.9 billion of the total budget for Economic Stimulus Plan (ESP) to reinstate the Business Opportunity and Information Center (BOIC) which existed previously under the Ministry of Economic Affairs.

He said the re-institution of the center would not be a government agency but a corporate entity through which the government will support entrepreneurship and collaborate with other stakeholders. “We plan to support and bring up about 5000 cottage industries through this center,” Lyonchen said.

He also announced that the government starting next year will initiate four awards for best entrepreneur, best women entrepreneur, best rural entrepreneur and a best business proposal on April 4, 2014 which is the World Entrepreneurship Day.

The minister for Labour and Human Resources, Lyonpo Neegma Sangay Tsenpo speaking at the opening pointed out that most Bhutanese lack the sense of competition, which is crucial for success.

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Labour and Human Resources minister, lyonpo Neegma Sangay Tsenpo speaking at the opening ceremony

He also said lack of monitoring the entrepreneurs after the start of their business in Bhutan is one factor that slows the growth of entrepreneurship in Bhutan besides the lack of strong political will in the past. “Our government come with a strong political will to support entrepreneurship,” he said.

A representative from Druk Holding and Investment (DHI) spoke about the social mandate of DHI for the growth of private sector and new entrepreneurs. “DHI is working towards supporting private sector and new entrepreneurs beside other mandates,” he said.

Making the opening remarks, founding director of Loden, Dr. Karma Phuntsho highlighted the objectives of GEW in Bhutan as to create awareness and promote idea of entrepreneurship as a fundamental to prosperity, to boast existing entrepreneurs by providing necessary supports and to promote socially and culturally responsible entrepreneurship in Bhutan.

Training workshop on ‘Thinking differently through entrepreneurship,’ ‘Being Innovative and Creative’ and ‘Mentoring and Volunteering’ were also conducted in various venues in Thimphu in the afternoon.