Economics and Finance Committee conducts consultations on the ease of doing business-DZ
The Economics and Finance Committee today met with the officials from the Ministry of Economic Affairs, Ministry of Finance, Ministry of Labour and Human Resources, Tourism Council of Bhutan, and Department of Immigration to discuss on the ease of doing business and on the Committee’s review report from their recent visit to the southern parts of the country.
The review report comprised information on the following issues and challenges:
- Levy of high GST on export of Bhutanese goods to India as oppose to low BST for imported goods;
- Transport and logistics;
- Access to finance;
- Ease of doing business;
- Facilitation of trade across borders;
- Non acceptance of BTN for SDF;
- Non availability of raw materials;
- Inadequate support for local industries that promote import substitution;
- Cement industry;
- Inadequate labors;
- SOEs as competitors;
- Losing business in border towns;
- SDF for non-tourist; and
- High cost of production.
Through consultation, the Committee intends to find out the strategies to mitigate the above issues and challenges by the relevant stakeholders and accordingly screen the issues that need to be tabled in this coming winter session. It was found that while the stakeholders are aware of and have the measures in place, there can be a few pertinent issues that need to be tabled for deliberation in the session.
The objective of the visit and consultation is to facilitate export and import, increase foreign reserves, promote import substitution and minimize the negative trade balance.
Tomorrow, the consultation meeting will be with Royal Monetary Authority.
