Economic Affairs Minister Loknath Sharma

MoEA says Business Incubation Centers being established across the nation

To the question raised by Khamdang Ramjar’s Member of Parliament, Kuenga Loday, on establishment of Business Incubation Centers (BICs), to ensure regional equity, the Economic Affairs Minister, Loknath Sharma, said that the ministry has established the BICs as pledged.

Lyonpo said that in western region, the ministry has already established a business incubation center in Changzamtog, Thimphu. The center provides mentoring, technical guidance, space and other facilities to startups since its inception in 2018.

“The ministry has already started expansion of the Old Industrial Service Center at Changzamtog as a remodeled center to be used as startup center to accommodate more startups. For the purpose of expansion of the startup center, the government under the CSI Flagship Development Program has earmarked Nu 100 mn,” Economic Affairs Minister said. The renovation and remodeling works have been outsourced to NHDCL.

In south-western region, the ministry has already started the construction of the center at Dhamdum Industrial Park under Samtse, and at present, 8.51 percent of the overall construction work has been completed, and it is expected to complete at least 50 percent of the overall construction work in the FY 2020-2021.

The cost of the project is Nu.34.58 mn and it is financially supported under CSI Flagship Development Program. The startup center will be sprawling over 1 acre of industrial land and the center will accommodate at least 20 incubates/startups in production and manufacturing sectors, and 15 for IT enabled services as co-working space.

For the eastern region, the Economic Affairs Minister, said, “The startup center will be constructed at Gyelpozhing under Mongar Dzongkhag. At present, we have awarded contract for the construction. However, the ministry is not able to initiate the construction for now since Gyelpozhing College of Information Technology’s (GCIT) Master Plan is under review. Therefore, we are waiting for an approval of the revised master plan of GCIT.” The total project cost is Nu 40.48 mn.

The startup center at Gyelpozhing will provide 25 spaces to production and manufacturing sectors besides providing co-working space for IT enabled services. The center will be sprawling over 0.50 acres of the college area.

Meanwhile, the Economic Affairs Minister said, there are incubation centres in colleges, where 3 are already established, at Gedu College of Business Studies, College of Science and Technology, and College of Natural Resources.

“Establishment of incubation centres at Sherubtse College and Jigme Namgyal Engineering College is in the plans,” he added.

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