Tentmaker Reports

Bhutan Report

Entrepreneurial Missions Index

41.64

General Information

Population

753,947 (151st most populous country in the world)

RELIGIONS
Lamaistic Buddhist75.0%
Hinduism25.0%
LANGUAGES
Dzongkha
Tibetan Dialects
Nepalese Dialects

Industries

Cement, wood products, processed fruits, alcoholic beverages, calcium carbide, tourism

Unless otherwise noted, all information included here was obtained from the World Factbook project 4, conducted by the Central Intelligence Agency (CIA). For more detailed information about Bhutan, visit https://www.cia.gov/library/publications/the-world-factbook/geos/bt.html.

Business Information

The World Bank ranks Bhutan as 122 out of 183 economies in terms of ease of doing business. The country ranks as 0 (of 183) in terms of ease of starting a business.

It requires 0 procedures, takes 0 days, and costs N/A% of income per capita to start a business in Bhutan.

In order to start a business in Bhutan, one must follow these procedures:

  1. Obtain a clearance from the Royan Bhutan Police
  2. The company submits project proposal to Department of Industry, Project Development Services Division
  3. Register with the Registrar of Companies
  4. Apply for a trade / industrial license at the Regional Trade and Industrial Office (under Ministry of Trade)
  5. Apply for taxpayer identification number and register the company for specific taxes
  6. Make a company seal
  7. Open a bank account
  8. File the evidence of operating bank account with the Registrar of Companies

Unless otherwise noted, all information included here was obtained from the Doing Business project 3, conducted by the World Bank. For more detailed information about starting a business in Bhutan, visit http://www.doingbusiness.org/.

 

 

Bhutan Economic Freedom

The annual survey Economic Freedom of the World is an indicator produced by the Fraser Institute, a libertarian think tank which attempts to measure the degree of economic freedom in the world's nations. Economic Freedom of the World index has been more widely used than any other measure of economic freedom, because of its coverage of a longer time period

Their measure of economic freedom is based on that the following standards:

  • Personal choice rather than collective choice,
  • Voluntary exchange coordinated by markets rather than allocation via the political process,
  • Freedom to enter and compete in markets, and
  • Protection of persons and their property from aggression by others.

A state will rate high when it focuses on protection of people and their property from the actions of aggressors, enforcement of contracts, and provision of the limited set of public goods like roads, flood control projects, and money of stable value and little else, but a country’s rating on the EFW summary index will fall as government expenditures increase and regulations expand.   

 

Bhutan Summary

 

1 World Economic Forum

2 Free the World
Gwartney, James and Robert Lawson with Herbert Grubel, Jakob de Haan, Jan-Egbert Sturm, and Eelco Zandberg (2009). Economic Freedom of the World: 2009 Annual Report. Vancouver, BC: The Fraser Institute. Data retrieved from www.freetheworld.com.

3 World Bank Data

4 World Factbook Project

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