Business proposal approved on the spot
During the two hours IndiaBhutan Business Conclave chief minister of West Bengal Mamata Banerjee came out with more than five business proposals which were then approved by economic affairs minister Norbu Wangchuk on the spot last Monday.
Lyonpo Norbu Wangchuk also addressed her as “Mamata didi” and said she is the role model of Bhutanese woman. He also added the country is open to business and highlighted Bhutan’s potential in various areas.
The chief minister said that Bhutan and India’s relation is nothing beginning the two countries share relation of historical, geographical, economic, culture and tradition. Bhutan should “consider West Bengal as your sweet home and West Bengal will be happy to be partner and work with Bhutanese brothers and sister”. She also added “you have so many things in your hand and I have something in my hand also” meaning that two countries can go together for each other’s product.
She recommend Bhutan to take advantages of green field airport as a gateway to other countries which West Bengal government has declared a 100% sale tax exemption on aviation turbine fuel until 2021. She even asked Bhutan to export dolomite and limestone to West Bengal which is the gate way for North East region, so that Bhutan can get advantage to explore business opportunities to Thailand , Singapore, Maldives, Malaysia and more over 10- 12 countries.
The Chief Minister also said that two countries will start business corridor together to give industrial, horticulture, tourism and joint venture facilities. If both governments agree to work together and to identify the type of business set up. The she added only the speech will not work.
In the ends of her speech she said, “Market is ready, intention is clear and transparency is there. The two countries are very close friend let us take decision today itself”.
The proposal came from the manufactures of graphite electrodes to set up company in Bhutan by the representative from Graphite India. The representative said all part of the product would be produce in India where as finishing power intensive, could be done in Bhutan. Mentioning, Bhutan has a source of electricity which is cheaper.
After that the proposal is from manufacturer of Frooti and Appy beverages to set up a factory in Bhutan. Representative of the company said if Bhutan is revisiting its economic development policy, it should also consider allowing 100% FDI. He added the company has already kept aside funds to start right away.