In his State of the Nation Address on July 4th, 2024, Bhutanese Prime Minister Dasho Tshering Tobgay outlined a series of initiatives aimed at bolstering the economy and improving public services. The plan focuses on several key areas:
Private Sector Development:
- Loan Moratorium Lifted: The Economic Stimulus Programme will lift the moratorium on loans.
- Low-Interest Loans: Facilitate low-interest loans to revive and expand businesses and encourage new startups.
- Business-Friendly Policies: Implement policies, regulations, and guidelines to strengthen the private sector and improve the ease of doing business.
Public Infrastructure Enhancement:
- Highway Expansion: Widen 11 national highways and construct seven new highways.
- Monitoring Teams: Establish dedicated teams to ensure timely completion and quality of public infrastructure.
Tourism Development and Diversification:
- Policy Improvements: Enhance policies, systems, and services to boost tourism.
- New Markets: Identify and tap into new tourism markets.
ICT Sector Support:
- Business Opportunities: Facilitate opportunities for ICT companies.
- Internet Gateway: Establish a third Internet gateway and work towards reducing internet tariffs.
Foreign Direct Investment (FDI):
- Economic Opportunities: The Economic Development Board will explore diverse economic opportunities.
- FDI Policy Review: Review and enhance the Foreign Direct Investment Policy and create special investment opportunities for Bhutanese living abroad.
Hydropower Generation:
- Power Transmission: Start transmitting power from the Punatsangchhu-2 Hydroelectric Project.
- Project Resumption: Resume construction of the Punatsangchhu-1 Hydroelectric Project.
- New Projects: Initiate construction on multiple hydroelectric projects, including Kholongchhu, Suchhu, Burgangchhu, Yungichhu, Druk Bindu-1, Druk Bindu-2, Gamri-1, Begana, and Jomori.
21st-Century Economic Roadmap:
- Economic Strengthening: Formalize the roadmap towards strengthening the economy and advancing growth and development.
Agriculture and Livestock Enhancement:
- Low-Interest Loans: Provide low-interest loans to farmers through the Economic Stimulus Programme.
- Road Repairs: Repair and blacktop 20 gewog centre roads and maintain 200 chiwog roads.
- Irrigation Projects: Initiate 56 irrigation projects within the financial year.
- Fencing Installation: Install chain-link fencing in about 200 chiwogs.
- Market Access: Formulate policies and programs to identify and prioritize cereals, fruits, and livestock products, ensuring market access.
- Power Tillers: Introduce a low-interest loan program for farmers to purchase power tillers.
- Compensation and Insurance: Develop policies for crop and livestock compensation and insurance.
Human Resource Development:
- Gyalsung Program: Inaugurate the Gyalsung program on September 5, 2024.
- Education Reforms: Enhance and strengthen education policies, upgrade 63 schools to central schools, and develop new policies and systems.
- Healthcare Services: Start the Gyaltsuen Jetsun Pema Wangchuck Mother and Child Hospitals in Thimphu and Mongar, and develop a detailed project report for a specialized cancer hospital.
- Vocational Training: Upgrade and promote vocational training institutes.
- National Sports Plans: Develop and implement national sports plans in collaboration with the Bhutan Olympic Committee.
- Higher Studies Loans: Develop policies for interest-free loans for youth pursuing higher studies abroad.
- Substance Abuse: Address substance abuse through collective action, establishing a new school for students struggling with substance use and a specialized rehabilitation center.
Spiritual Heritage and Culture:
- Dzong Construction: Continue the construction of Sarpang Dzong and renovate and expand sacred temples.
- Dzongkha Promotion: Prioritize the development and promotion of Dzongkha through ICT.
- Performing Arts: Institute specialized training programs in performing arts.
Public Service Delivery:
- Civil Service Reforms: Work with the Royal Civil Service Commission to advance reforms.
- Integrated Service Centre: Develop policy, system, and guidelines for timely and quality public service delivery.
- Local Government Training: Roll out orientation training on the 13th Five Year Plan for local governments.
Additional Priorities for Financial Year:
- Home Ownership: Formulate policies and plans for low-interest loans to facilitate home ownership.
- Rural Life Insurance: Increase rural life insurance coverage.
- Motherhood Allowances: Provide allowances for mothers giving birth to a third child.
The PM said that these comprehensive measures aim to ensure sustainable development, economic growth, and improved quality of life for Bhutanese citizens.
