BOiC sets up regional office in Trashigang to boost business in the East

The Business Opportunity and Information Centre (BOiC) launched its regional office in Trashigang on 5th February 2015.

The Minister of Trade and Economic Affairs, Lyonpo Norbu Wangchuk, graced the event as the chief guest at the Trashigang Middle Secondary School 2015.

The office is located at the ground floor of building no. 621 in Green Valley, lower market in Trashigang. The office of BOiC will be open from 9:00Am to 5 PM on all the weekdays.

BOiC will expand its services to the six eastern districts of the country by setting up a regional office in Trashigang.

“The BOiC in Thimphu is overwhelmed with applications from the interested proponents, especially from the eastern part of the country,” said the Chief Executive Officer of BOiC, Karma Tshering.

“ The interested applicants are facing difficulties trying to access our services. Therefore to ease such constrains, we have decided to take our services to Trashigang to cater to the 6 eastern dzongkhags,” he added.

The regional office is also established to allow better coordination and cooperation between BOiC

and its clients and to allow both the parties to increase their domain of action within the BOiC mandates, in particular at the rural and at the regional level.

In order to cater to the aspiring entrepreneurs from the six eastern Dzongkhag of the country, BOiC will carry out the following mandates as entrusted by the Government through the regional office.

The regional office of BOiC will, act as one-stop center for information- on business opportunities in the country, business start-up protocol, extant business laws, rules and regulations. It will implement the revolving fund and extend financial support to deserving manufacturing projects and those from the non-formal commercial sector.

It will also provide training programs to develop practical business skills of potential entrepreneurs and help them come up with effective business plans to ensure initial success.

The Royal Government of Bhutan established the BOiC on 19 December 2013 as a time-bound autonomous agency, under the aegis of the Ministry of Economic Affairs. The primary purpose of setting up BOiC is to promote the growth of cottage and small manufacturing activities and non-formal rural activities within the country.

Its mission is to stimulate growth of cottage and

small manufacturing industries and non- formal rural economic activities by providing necessary support which includes both administrative and funding support.

Its mandate is to act as one-stop center for information- on business opportunities in the country, business start-up protocol, extant business laws, rules and regulations. It implements the Revolving Fund and extends financial support accordingly to deserving manufacturing projects and non-formal commercial sector. It also provides training programs to develop practical business skills of potential entrepreneurs and help them come up with effective business plans to ensure initial success.

BOiC will facilitate and provide access to funds under the Revolving Funds. The Revolving Fund is divided into two parts. One is Revolving Fund I with a budget of Nu 1,500 million for cottage and small manufacturing industries and another is Revolving Fund II with a budget of Nu 400 million for non-formal rural activities.

BOiC will also provide other business support. Information will be provided on licensing, rules and others including advisory services through a ‘one-stop’ information center. BOiC will also identify and disseminate information on business opportunities by undertaking feasibility studies.

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