Dear Member,

In the letter dated 21.05.2024 and numbered 4992, sent to our Chamber from the Union of Chambers and Commodity Exchanges of Türkiye,

Details of the "Gelephu Mindfulness City" project, announced by Bhutanese King Jigme Khesar Namgyal Wangchuck on the occasion of Bhutan's 116th National Day on December 17, 2023, are included. The article states that it is planned to establish an Economic Zone (hub) in the city of Gelephu, located on the Indian border.

It is emphasized that the energy needs of the Economic Zone in question will be met by hydroelectric power plants and that the region, which will spread over an area of one thousand kilometers, will function as an economic base. It is also reported that the aim is to facilitate financing for public infrastructure projects such as roads, bridges, and airports, and that the construction of offices, residences, schools, hospitals, hotels, and private businesses is planned to begin in the first phase of the project.

However, the article states that Bhutan's production capacity is weak and that it is in a socio-economic bottleneck, and that the "Gelephu Mindfulness City" project aims to revitalize the country's economy, but the implementation of the project remains uncertain due to the ongoing search for financing.

It is stated that efforts are ongoing to find investors rather than implementing companies in the first stage, and that India and Qatar may be interested in the project.

Best regards.