SPECIAL FEATURE
Factsheet: Bhutan
Roughly the size of Switzerland at around 40,000 km 2 , Bhutan boasts enormous hydropower resources, with an estimated potential of 35,000 MW from more than 150 sites nationwide, according to the World Bank. Despite having developed just 7 percent of its total hydropower potential, the sector already accounts for 20 percent of the national economy and 40 percent of national revenues. To help tap Bhutan’s potential, the OPEC Fund is working to provide one loan for a value of US$30 million, set for approval in 2024, to support two small hydropower projects in Bhutan – Gamri (45 MW) in the east of the country and Begana (30 MW) in the west. These power plants will mainly cover local demand through mini grids, but will also have the option to plug into Bhutan’s main grid, which already exports energy to neighboring India and Bangladesh.
Digital futures Besides its booming energy sector Bhutan has also looked to science, technology and innovation to kick-start its business growth and investment. In 2021, at the height of the COVID-19 pandemic, Bhutan launched its Government-to-Business (G2B) digital portal based on software developed by the United Nations Conference on Trade and Development (UNCTAD). The G2B portal earned Bhutan the title of the fastest place in the world to start a new business as entrepreneurs are able to fill out a form on a cell phone and receive all registration documents for free – in under a minute. In 2022, well over 5,000 Bhutanese citizens used the service to register a new business and more than half were filed by women. Bhutan’s Economic Affairs Minister Tengye Lyonpo told a UN News team in June 2021: “Our approach is to innovate first, regulate later. That allows us to reduce entry barriers for new businesses, embrace innovation and allow creativity to flourish.”
Bhutan is one of only three carbon-negative
countries worldwide, alongside Suriname and Panama
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