Announcing the initiatives, Lyonpo Namgyal Dorji said the theme reflects the need for a collective effort from the government, the private sector, development partners, and Bhutanese entrepreneurs to build the nation’s future. He underscored that entrepreneurship in Bhutan continues to draw inspiration from His Majesty The King, whom he described as “the greatest entrepreneur among us.”

He noted that His Majesty’s vision for the Gelephu Mindfulness City (GMC) represents Bhutan’s boldest national undertaking, a “national startup” that reflects courage, innovation, and the ambition to compete on the global stage.

According to Lyonpo Namgyal Dorji, the upcoming Bhutan Entrepreneurship Program and Bhutan Entrepreneur Fund are designed to address two major challenges faced by entrepreneurs: the need for world-class capacity-building and access to early-stage financing.

Over the past year, MoICE has been working with a leading Silicon Valley venture capital firm that manages multi-billion-dollar assets and has invested in thousands of startups, including more than 35 unicorns across 80 countries. The partnership is expected to give Bhutanese entrepreneurs access to global mentorship and networks previously out of reach. He confirmed that all negotiations and paperwork have been finalized and that the government will soon announce the official launch.

The Minister highlighted that alongside the forthcoming initiatives, significant financing is already flowing to Bhutanese entrepreneurs. Under the Economic Stimulus Program (ESP), Nu. 600 million has been dedicated specifically for startups, while over Nu. 500 million has been deployed under the YELP program. A further Nu. 3.5 billion in concessional loans has been released through financial institutions.

BDBL has received 3,969 applications so far, approving 2,314 and declining 1,655. Current financing windows include agriculture and livestock loans of up to Nu. 1 million, CSI manufacturing loans of up to Nu. 10 million, and medium industry loans of up to Nu. 100 million.

However, Lyonpo Namgyal Dorji stressed that financial support must be matched by structural reforms to improve Bhutan’s business environment. Over the past year, MoICE and the Bhutan Chamber of Commerce & Industry (BCCI) have undertaken Bhutan’s largest regulatory review in years, identifying 210 barriers. Of these, 123 have been resolved, 26 require Cabinet decisions, and 59 are being processed by relevant agencies.

A further Cabinet review found that many challenges stem from decades of accumulated rules and notifications. Ministries and agencies were therefore instructed to submit all business-related regulations for scrutiny, resulting in a total of 955 regulations now under review.

Lyonpo said the government and private sector will meet next week to begin a detailed examination of each regulation to determine what should remain, what should be revised, and what should be removed. He stressed that “this will not be a cosmetic reform” but a fundamental shift toward a regulatory environment that supports innovation and enterprise, especially for startups.

“The ease of doing business matters most to those who are still trying to take off, not to those who have already taken flight,” he said.

Marking Global Entrepreneurship Week, Lyonpo Namgyal Dorji said Bhutan stands at a rare moment in its national journey – supported by visionary leadership, structural reforms, and a generation of young innovators.

“The government will clear the path,” he said, “but it is you — our builders and innovators — who must walk it first so that together we define Bhutan’s next era of prosperity.”