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MSME DEVELOPMENT IN BHUTAN

MSME DEVELOPMENT IN BHUTAN. Langa Dorji Dept. of Employment, MoLHR. Outline of Presentation. MSME Definition Overview of Bhutan’s SME Impediments in SME development SME Development Advantages for Growth of SME Areas of Opportunity for SME growth Conclusion . DEFINITION.

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MSME DEVELOPMENT IN BHUTAN

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  1. MSME DEVELOPMENT IN BHUTAN LangaDorji Dept. of Employment, MoLHR

  2. Outline of Presentation • MSME Definition • Overview of Bhutan’s SME • Impediments in SME development • SME Development • Advantages for Growth of SME • Areas of Opportunity for SME growth • Conclusion

  3. DEFINITION Nu. 53 = US $ 1 Note: Employment and investment will apply; where there is conflict, investment will take precedence over employment

  4. Overview of Bhutan’s SME • First Five Year Plan (FYP) began in 1961 • Privatization began in the 6FYP period (1987-1992) • Privatization of public sector undertakings • Corporatization of government agencies • MSME make‐up 98% of enterprises

  5. Impediments in SME development • Raw Materials • Human Resources • Sales and Market access • Infrastructures • Infos on Market & Technology • Legal Environment • Technical/Production • Commercial Space • Competition • limited access to financing

  6. Support mechanism for SME development  Private sector is the ‘engine of growth’  Government’s role is facilitation & regulation  Private sector to take up all commercial activities Government initiatives: • Establishment of Bhutan Chamber of Commerce & Industries • Infrastructure development • Simplification of registration & licensing procedures • Reduction of administrative burden

  7. Support mechanism for SME development … • Regular interactions and consultations • Protection of intellectual property rights • Outsourcing of services to the private sector • Fiscal incentives • Access to credit • HRD support

  8. Advantages for Growth of SME • Political Stability • Peace & Security • Vibrant & living culture • Pristine & Natural environment • Reliable & competitively price energy

  9. Conclusion

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