More local products needed in the market

During the Question and Answer Session of the National Assembly (NA), Khar-Yurung MP, Tshering Chhoden, said one of the pledges of the government is to formulate policies for the development of the small and medium scale businesses.

In the current market scenario, the small and micro-economic businesses, like restaurants, bars and others have been affected due to the pandemic. Many of the businesses have had to close down as well.

In response, Lyonpo said that businesses are affected not only in Phuentsholing and Gelephu, but in other parts of the country due to the COVID-19 pandemic.

To help the small and micro-economic businesses in the country, the government has come up the CSI policy in 2019. Around 2,881 startup and small cottage industries are registered under the CSI flagship.  National CSI Development Banks provided micro loans to them, amounting to Nu 183 million so far.

Lyonpo said the startup centers are located in Thimphu and Samtse.  There are about 23 new locally produced products in the country and the government is exploring markets to sell them.

There are about 1,000 varieties of products. The government has been encouraging Bhutanese to come up with business ideas.  About 123 products are exported to Dubai for the expo. The CSI market in Changzamtog is one of the sales outlets selling local products, he added.

The government is trying to support the startup and small cottage industries by providing them with working capital.

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