BOIC to open its regional office in Trashigang
The Business Opportunity and Information Centre (BOiC) will officially launch its regional office in Trashigang on the 5th of February 2015.
The Minister of Trade and Economic Affairs, Lyonpo Norbu Wangchuk, will grace the event as the Chief Guest and the launch will be at the Trashigang Middle Secondary School.
BOiC will expands its services to the six eastern districts of the country by setting up a regional office in Trashigang.
“The BOiC in Thimphu is overwhelmed with applications from the interested proponents, especially from the eastern part of the country,” said the Chief Executive Officer of BOiC, Karma Tshering. “The interested applicants are facing difficulties trying to access our services. Therefore to ease such constrains, we have decided to take our services to Trashigang to cater to the 6 eastern dzongkhags.”
The regional office is also established to allow better coordination and cooperation between BOiC and its clients and to allow both the parties to increase their domain of action within the BOiC mandates, in particular at the rural and at the regional level.
In order to cater to the aspiring entrepreneurs from the six eastern Dzongkhag of the country, BOiC will carry out the its mandates as entrusted by the Government through the regional office. The regional office of BOiC will act as one-stop center for information-on business opportunities in the country, business start-up protocol, extant business laws, rules and regulations, implement the revolving fund and extend financial support accordingly to deserving manufacturing projects and non-formal commer- cial sector and provide training programs to develop practical business skills of potential entrepreneurs and help them come up with effective business plans to ensure initial success.
The Business Opportunity & Information Centre (BOiC) was established on 19 December 2013 as a time-bound autonomous agency, under the aegis of the Ministry of Economic Affairs. The primary purpose of setting up BOiC is to promote the growth of cottage and small manufacturing activities and non-formal rural activities within the country.
Its mission is to stimulate growth of cottage and small manufacturing industries and nonformal rural economic activities by providing necessary support, both administrative and funding support. It is mandated to act as one-stop center for information- on business opportunities in the country, business start-up protocol, extant business laws, rules and regulations, implement the revolving fund and extend financial support accordingly to deserving manufacturing projects and non-formal commercial sector, provide training programs to develop practical business skills of potential entrepreneurs and help them come up with effective business plans to ensure initial success.
BOiC will facilitate and provide access to funds under the revolving funds. The revolving fund is divided into two parts which includes revolving fund I – with a budget of Nu 1,500 million for cottage & small manufacturing industries and revolving fund II – with a budget of Nu 400 million for non-formal rural activities
BOiC will also provide other business support. Information will be provided on licensing, rules and others including advisory services through a ‘onestop’ information center. BOiC will also identify and disseminate information on business opportunities by undertaking feasibility studies. In addition, BOiC will also implement and monitor projects and provide trainings to enhance the skills and capacity of the entrepreneurs.