As Bhutan observed the 45th birth anniversary of His Majesty the King, Bhutan’s 21st Century Economic Roadmap – A 10X National Economic Vision was launched. The 10X National Economic Vision serves as Bhutan’s bold and strategic roadmap toward achieving economic self-reliance and resilience, fully aligning with His Majesty’s vision for a prosperous and self-sustaining nation. This transformative plan seeks to propel Bhutan’s real Gross Domestic Product (GDP) to ten times its current level by 2050, fundamentally reshaping the nation’s economic landscape. While the Roadmap has five key areas and 8 priority sectors, observers say that the strategic enablers are very important.
Speaking about it, a civil servant said the Vision unfolds with five bold national ambitions—the guiding stars that will chart Bhutan’s course toward a prosperous and dynamic future. “To fuel the nation’s economic ascent, the Vision has identified eight priority sectors that will act as the pillars of this transformation. Yet, at the core of this ambitious journey lie the strategic enablers—the driving forces that will empower these sectors to thrive.” He added that for revolutionizing Bhutan’s economic landscape, the government has identified seven key enablers. “These enablers are not just catalysts—they are the engines that will drive Bhutan toward its audacious goals, propelling the nation into a future of boundless opportunity. Designed to empower every sector and ensure sustainable growth, these enablers will sharpen Bhutan’s competitive edge, enabling it to thrive in the face of a rapidly changing global landscape,” he added.
In the words of a planning officer, at the heart of the Vision lies the commitment to policy and governance excellence, whereby the government will overhaul existing regulations and introduce new frameworks to ensure a predictable, stable, and transparent environment for individuals and businesses alike. “With governance as the foundation, the vision for Bhutan’s future will be firmly rooted in effective policy-making that fosters confidence and progress.” He added that private sector development and investment promotion is very important. “The private sector is the lifeblood of any economy, and the 10X Vision places it at the forefront of Bhutan’s growth strategy. The government’s focus on creating a thriving business environment, identifying new opportunities for expansion, and attracting vital international investments. This will empower local entrepreneurs, create jobs, and catalyze innovation, propelling Bhutan into a new era of economic prosperity,” he said.
Human Capital Development is another enabler. To stay competitive in the future economy, Bhutan must invest in its most valuable asset: its people. The 10X Vision emphasizes the development of a deep talent pool that bridges current and future skill gaps. By providing world-class education and training, Bhutan will cultivate the next generation of leaders, entrepreneurs, and professionals who will drive the country’s economic engine forward, the officer underlined.
Infrastructure and connectivity improvements are also an enabler. Speaking about it, head of a corporate office said an efficient economy depends on robust infrastructure and seamless connectivity. “The Vision lays out an ambitious plan to reduce business costs and open pathways for Bhutanese enterprises to integrate with global supply chains. From modernizing transportation networks to expanding digital connectivity, these improvements will unlock new opportunities for businesses and bolster Bhutan’s position in the global marketplace.”
He also elaborated on expanding market access.” “Bhutan’s economic future hinges on access to global markets. The 10X Vision calls for aggressive efforts in market identification, development, and export promotion. By strategically targeting international markets and strengthening Bhutan’s global presence, the country will open new avenues for trade, ensuring its products and services gain a competitive edge worldwide.”
A private entrepreneur while lauding the government’s steps said strengthening the financial ecosystem as an enabler is significant. “A robust financial ecosystem is essential to fuel growth. The government’s strategy includes enhancing access to finance for businesses, improving financial services, and exploring innovative funding models to support emerging business ventures. By developing a comprehensive financial strategy, Bhutan will ensure that its private sector has the tools and resources it needs to thrive in an increasingly complex global economy.”
The seventh enabler is fostering an innovation ecosystem, with the roadmap saying that innovation will be the engine that drives Bhutan’s economic transformation. The Vision envisions the creation of a dynamic innovation ecosystem that fuels creativity and progress through a network of innovation labs and research-driven initiatives. By investing in Research and Development and encouraging collaboration between public and private sectors, Bhutan can position itself as a global hub for innovation, technology, and sustainable development.
Through these strategic enablers, the 10X Vision seeks to create an environment where all sectors can flourish, laying the groundwork for Bhutan’s prosperous and self-reliant future.
Meanwhile, the National Economic Vision is not just a plan; it is a bold and transformative blueprint for Bhutan’s future, one that charts a course toward enduring prosperity. At its heart lies a resolute commitment to build a resilient, inclusive, and sustainable economy—an economy that uplifts every Bhutanese citizen and ensures that no one is left behind. Rooted in the revered principles of Gross National Happiness (GNH), this Vision pledges to strengthen environmental stewardship and foster equitable growth, ensuring that Bhutan’s development is not just measured in economic terms, but in the well-being and happiness of its people. It is a call to action, a promise to the future, and a path forward for a nation ready to rise, united in pursuit of a thriving and harmonious tomorrow.
Sangay Rabten from Thimphu
