The eco­nomic de­vel­op­ment pol­icy with 252 pro­vi­sions for growth and in­vest­ments

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Staff Re­porter T he Eco­nomic De­vel­op­ment Pol­icy (EDP) out­lines the eco­nomic roadmap of the coun­try and high­lights pri­or­ity sec­tors for growth and in­vest­ments. As the apex pol­icy for 7 years, with the ob­jec­tive of as­sess­ing achieve­ments and chal­lenges and to­wards keep­ing the ob­jec­tive of as­sess­ing achieve­ments and chal­lenges and to­wards keep­ing the Pol­icy dy­namic and rel­e­vant to emerg­ing eco­nomic re­al­i­ties, the Royal Gov­ern­ment ini­ti­ated the re­view of the pol­icy in mid 2015.

As per the press re­lease from the Min­istry of eco­nomic af­fairs the pol­icy had fol­lowed ex­ten­sive con­sul­ta­tions with stake­hold­ers in­clud­ing the pri­vate sec­tor dur­ing the last one half years, the Royal Gov­ern­ment have ap­proved the EDP 2017 dur­ing the 120th ses­sion of the Lhengye Zhungt- shog held on De­cem­ber 21, 2016.

The EDP 2017has a to­tal of 252 Pol­icy pro­vi­sions and pro­vides the over­all en­abling en­vi­ron­ment to con­tinue cre­at­ing a trans­par­ent and con­ducive en­vi­ron­ment for busi­ness and in­vest­ment in the Bhutanese econ­omy. Sev­eral “games chang­ers” have been iden­ti­fied through­out the pol­icy which will form parts of the re­form agenda. Fur­ther, em­pha­sis is also pro­vided to pri­or­i­tize the Five Jew­els (Hy­dropower, Tourism, CSIs, Min­ing and Agri­cul­ture), en­hance pro­duc­tiv­ity and re­duce ad­min­is­tra­tive bur­den for busi­nesses, di­ver­sify ex­ports, en­hance pro­duc­tiv­ity and progress to­wards be­ing a knowl­edge based and self re­liant so­ci­ety. Learn­ing form ex­pe­ri­ence, the EDP will as­sign spe­cific time­lines and ac­count­abil­ity on agen­cies on the im­ple­men­ta­tion of the Pol­icy and a mon­i­tor­ing and re­port­ing sys­tem will be in­sti­tu­tion­al­ized.

“The pol­icy will of­fi­cially be launched by Hon’ble Prime Min­is­ter some­time dur­ing the end of Jan­uary. Based on EDP 2017, the Min­istry of Fi­nance and Min­istry of Eco­nomic Af­fairs will for­mu­late the fis­cal in­cen­tives which are also ex­pected to be launched shortly” the press re­lease states.

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