A dream of IT-driven economy

With the inauguration of Thimphu TechPark Ltd (TTP) on Tuesday, the government and stakeholders say that Bhutan has embarked on its journey to becoming an ICT-enabled economy.

At the inaugural session, the chief executive officer of TTP, Michael Holland, said “The key component of an ICT-enabled economy is its human capital and within this TechPark, we will setup Bhutan Innovation and Technology Centre (BITC).”

BITC is scheduled to kick start beginning next year. Once in operation, it will provide educational programmes and skills up-gradation opportunities. It is expected to become a hub for small businesses and entrepreneurship.

TTP has already signed three Memoranda of Understanding (MoU) with local companies like New Age Technologies, an IT firm, Green Dragon Media, an animation company, and Bhutan Professional Services, a project and construction management firm.

“We invite more Bhutanese individuals and fledgling companies to get in touch with us because the project is not only about Foreign Direct Investment (FDI), but also about increasing capacity of local companies and individuals,” said Michael Holland.

At the moment, TTP is discussing with international companies like CISCO and Microsoft on the use of online learning programmes in the centre. This is to provide Bhutanese youth with training programmes from some of the best companies in the world.

TTP will also act as a focal point for venture capital for small businesses. Its chief executive says a number of foundations and organizations including Druk Holding and Investments (DHI), World Bank, and the International Finance Cooperation (IFC) provide seed capital for start-up businesses.

He said BITC will provide physical and virtual opportunities to coordinate and bring together seed funding in a more strategic, coherent and effective manner for Bhutanese businesses.

The World Bank (WB) representative in Bhutan, Mark Laprairie, said the inauguration of TTP represents a bold step in Bhutan’s development vision.

He said, “TTP holds great promise for Bhutan’s economic development and seeks to bring in partners that share the country’s vision of Gross National Happiness.”

The country sector coordinator for private sector development of WB, Cecile T Niang, said TTP aims at increasing productive employment through the use of ICT to develop enterprises, train Bhutanese and improve access to the financial sector.

Cecile said youth and women will benefit a great deal from the IT Park not only as employees, but also as entrepreneurs at the business incubation centre of BITC.

Today, about 500 Bhutanese youth are employed at the project. And about 50 percent of them are women.

With the IT Park in place, Cecile said Bhutan is investing in the future and creating new opportunities for the new generation.

The information and communications (MoIC) minister, Lyonpo Nandalal Rai, said TTP will create a multitude of opportunities for the Bhutanese in service-oriented entrepreneurship at  all levels. He said the business incubation centre will provide an ideal platform for young Bhutanese minds to be innovative and enterprising.

The minister said the presence of FDI companies at TTP will help the Bhutanese acquire new skills and attain higher professional competence of international standard.

At the inauguration of TTP, the government also signed an MoU with CISCO of India, a worldwide leader in networking.  CISCO will explore the possibility of using its technology to bring remote education, healthcare and skills training to the Bhutanese.

The government will study using CISCO’s Education Enabled Development (CEED) to impart curriculum and non-curriculum based remote education to the children in rural Bhutan.

The government will explore the possibility of training teachers in curriculum-based subjects and in areas like computer literacy.

Earlier this year, CISCO launched its inclusive growth business initiative to empower remote communities through technology by providing access to essential urban amenities.

CISCO also seeks to address youth unemployment problem in the country by carrying out skills development trainings.

TTP, first of its kind in the country, is promoted by MoIC. It is supported by the World Bank and developed by Assetz Property Group of Singapore, a leading development management corporation, and DHI.

The IT Park, located at Babesa in Thimphu, occupies 50,000 sq ft.  40,000 sq ft will be commercial space for Business Processing Outsourcing (BPO) services. The government will maintain 10,000 sq ft.

Of the 18 acres of land designated for the project, the IT Park has been developed on five acres. The rest of the space will be on offer for potential investors.

The government contributed US$ 2 million in the form of lease payment for BITC. Private sector investment in the IT Park accounts for more than US$ 4.5 million.

By Pushkar Chhetri

One Response to “A dream of IT-driven economy”

1. Wangchuk says:

   November 15, 2011 at 1:47 pm

   it is a god news to hear that now Bhutan is coming up with the Tech park. i heard about it since 2006 when i was in Sherubtse College, first year and even made a thought to join after my graduation but it was too late.

   Any way, it is a god news and assure that i can be a part of it one day.

   Thanks

   Reply