Following the filing of an extensive report examining 235 policies pertaining to the economy, the BCCI said that the Ministry of Industry, Commerce, and Employment is attempting to simplify corporate regulatory procedures. The project, led by BCCI and backed by the V4GCP and the European Union, intends to lessen compliance obligations and foster a climate that is more conducive to business. The BCCI held its first quarterly news conference for the private sector in Thimphu, where the findings were presented. Among other things, the private sector recognized significant issues during the examination of corporate regulatory processes earlier this year. Tandy Wangchuk, president of the BCCI, emphasized the significance of tackling issues that the private sector has recognized.
In order to streamline regulatory frameworks, the MoICE was instructed by the government’s Executive Order on January 29 to assess Bhutan’s corporate regulatory procedures. By identifying current obstacles and suggesting workable alternatives, this program seeks to create an atmosphere that is more favorable for the expansion and development of businesses. About 235 concerns were examined and verified through stakeholder discussions, issue collection, committee formation, and stringent validation procedures. Three review domains—general economic development policies, business regulatory processes, and policy processes pertaining to private sector development—were selected during private sector discussions.