The Hindu Business Line : Bhutan invites Indian investments

Kolkata, June 30 As part of its economic liberalisation programme currently under preparation, Bhutan will invite Indian investments in hydroelectric power generation, information and communication technology, hospitality, education and health sectors, according to Mr Jigme Yoser Thinley, the first Prime Minister of Democratic Bhutan.

Addressing a press conference here, the Bhutanese Prime Minister said that the new policies, just drafted, would aim at creating a more congenial environment for attracting Indian capital.

The mountain country is currently allowing 100 per cent FDI in IT and 70 per cent in power (invested mostly by the Indian PSUs through a co-operation agreement between the two countries). The new policy is likely to be even more liberal.

Talking on Indian investment (mostly in hydel power sector) so far in Bhutan, he said: “Not enough has come to Bhutan”.

According to the India-Bhutan co-operation treaty, 10 hydel projects are to be implemented by 2020.

“Of these, one project (Punat Sangchu) of 1200 MW became operational recently. We are looking forward to implement the rest within the scheduled timeframe,” the Prime Minister said.

Good potential

Referring the recent collaborations with Infosys, Wipro and Genpack, he said Bhutan had good potential to emerge as a destination for data processing and BPO sector.

The Bhutanese Prime Minister said that establishing the democracy will be the biggest challenge before his government.

“We have set up all democratic institutions and legal arrangements in place. However, democracy is yet to be established in our country. For that we need to educate our people to make the democracy workable and irreversible,” he said.

The country which already put the legal system in place is now setting up the Supreme Court with Indian assistance.

More Stories on : Foreign Trade | West Bengal

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page