GUWAHATI, Feb 25: On Tuesday, Bhutan’s Minister for Agriculture and Livestock, Younten Phuntsho, announced that the Himalayan nation is focused on developing an economy that not only keeps its youth at home but also draws in international investment.
He highlighted India’s essential role, particularly the state of Assam, which shares a 260-km border with Bhutan, in fostering his country’s growth.
Speaking at the Advantage Assam 2.0 business summit during a session on enhancing the India-Bhutan economic partnership, Phuntsho noted, “In December 2023, Bhutan moved off the UN’s list of least developed countries to become a lower middle-income nation. This transition brings both advancements and new challenges.”
One significant challenge Bhutan faces is the emigration of young people in search of employment, a trend fueled by the country’s free education system that has produced a highly qualified workforce.
“We aim to transform this narrative. We are striving to build an economy that retains our youth while also attracting global investors,” he stated.
Phuntsho spoke about the Gelephu Mindfulness City (GMC) project and encouraged policymakers and investors to engage with this initiative.
He elaborated on the deep-seated historical connections between Bhutan and India, especially with Assam due to their geographical closeness. “India remains our largest trading partner, and Assam plays a vital role in this relationship,” he remarked, referencing the multi-modal logistics park at Jogighopa in Assam.
Reflecting on his childhood, he shared fond memories of visiting Assam with his grandfather during school vacations to see family and friends. “I looked forward to these trips, not just because school was out, but for the warm hospitality of Assam,” he added.
Jonatan Tow, Special Envoy of the King of Bhutan for the GMC, who was also present at the session, shared that the project is being developed as a Special Administrative Region (SAR) instead of a Special Economic Zone (SEZ), as this structure offers greater legal flexibility and autonomy.
He emphasized that the construction of an airport as part of the GMC will significantly benefit the entire region, including Assam.
Tow mentioned that he has had discussions with Assam officials regarding potential areas for collaboration on the GMC project.
During the session, officials from Bhutan provided a presentation on the GMC initiative. (PTI)
