Revival of the Bhutanese Private Sector

Bhutan is a country in South Asia in the Himalayas. The country is guided by the philosophy of Gross National Happiness (GNH) in conducting its development activities and believes that progress must create an enabling environment for the happiness and well-being of its people. The private sector in Bhutan is predominantly characterized by small-scale enterprises in trade, industry and services. There are around 14,000 establishments employing around 74,000 persons.

Given abundant natural resources and the growing number of educated youths joining the labour market, the conditions seem right for fast-tracking private sector development in order to fulfil its potential to contribute to GNH through creation of more opportunities and a higher standard of living. Yet the geographical constraints of a mountaineous, sparsely populated country and some restrictive policies in addition to pandemic disruptions remain challenges to be dealt with.

Though a robust recovery and growth are expected from 2023 for the Bhutanese economy, the panel will discuss realities that could be opportunities or threats for the private sector. They will also discuss innovations needed to strengthen the sector in order to strive at sustainable socio-economic growth in the mid- and long-term. The panel consists of industry leaders and analysts from the private sector in Bhutan.