Government working on FDI policy to get Nu 500 bn investment

During the meet-the-press, the Minister of Ministry of Industry, Commerce and Employment (MOICE) Namgyal Dorji, unveiled significant plans for revising country’s Foreign Direct Investment (FDI) policy.

The minister shared that the ministry is meticulously reviewing the existing FDI policy of 2019, with plans to submit the revisions to the cabinet.

MOICE minister Namgyal Dorji shared, “The main points of the current review include enhancing the investment to attract foreign capital, addressing issues such as access to foreign exchange, payment gateway, immigration provisions, and identifying priority sectors for FDI.”

Lyonpo Namgyal Dorji emphasized the importance of consulting with the private sector and the Economic Development Board (EDB) to ensure that the proposed revisions align with the nation’s economic needs and objectives.

“The discussions are underway to expand investment opportunities into additional sectors, which will be detailed in the upcoming policy report. The overarching goal of the policy revision is to stimulate economic growth, create employment opportunities, attract technological advancements, and bolster foreign exchange reserves by promoting FDI.”

Currently our FDI landscape primarily on sectors such as agriculture, forestry, education, information technology, and tourism.

The minister outlined the government’s target of attracting Nu 500 billion in FDI, underscoring the government’s commitment to fostering a conducive environment for investment.

To facilitate investor engagement and streamline the investment process, the MOICE is developing a dedicated portal that will serve as a comprehensive resource for potential investors interested in Bhutan.

Additionally, the ministry has submitted a proposal to join the World Association of Investment Promotion Agencies, a move that aims to enhance the nation’s visibility as a favorable investment.

The proposed revisions and initiatives reflect on the country’s proactive approach towards economic development and foreign investment.

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