Education City in Bhutan

Hey, guys....see this link....http://www.kuenselonline.com/modules.php?name=News&file=article&sid=14230 or read this:


1 b dollar bid for Education City
Date: Tuesday, December 15 @ 01:32:16 EST
Topic: home

Infinity, an Indian infotech company, requires 1,000 acres for the project
15 December, 2009 - A Kolkata-based company Infinity infotech parks limited has proposed to invest a billion dollars or Nu 47 billion in creating an ‘Education/Knowledge City’ in Bhutan.

The project, by far the largest FDI investment proposal, aims to bring in the branches of around 15 to 30 top universities, along with 40,000 foreign students, into a 1000-acre education city.

The Infinity groups representative in Bhutan, Palden Tshering, the head of Chundu enterprises said, “The FDI project should provide employment for around 100,000 people, most of whom will be Bhutanese and eventually generate up to 500 million dollars a year in foreign exchange.”

1. Investment at 1 billion dollars or Nu 47 billion.
2. 15-30 Universities with 40,000 students.

3. 1000 acres land required.

4. 100,000 jobs to be generated.

5. RGOB forms committee to study project.


“The education city, apart from universities, will have high quality schools for faculty members, labs, hotels, health care, cultural and entertainment centres, sport centres, libraries, stationery, cafes and others to service the student population, which will all vitalise the local economy and allow Bhutanese to invest in,” said Palden Tshering. He said even IT companies and corporations that would want to hire this talent pool could set up offices in the city.

The group so far has looked at five locations, the first being a hillock just before Chuzom and the others in Punakha, Wangduephodrang and Paro. Most are government land. “What Infinity wants is 1,000 acres on lease or for sale, where 60 percent of the area can be built on,” said Palden.

Palden said that the idea first came up in December 2008 in a discussion in Kolkata with the Infinity group chairman, Ravindra Chamaria. Infinity is a Rs 10b net worth company, with joint venture from the West Bengal government, and specialises in developing information technology parks and office spaces in Kolkata.

Infinity first formally brought up the proposal to the government in a meeting in June 2009 with the ministry of economic affairs (MoEA) and later the ministry of education.

MoEA minister Lyonpo Khandu Wangchuk said, “Two firms from India had expressed interest in establishing a education/knowledge city in Bhutan and, so far, the Infinity group has recently submitted its expression of interest, however, RGoB is still waiting for similar expressions of interest from other firms.” He also said, “As the project to establish such a city requires substantial commitments from RGoB, a committee, comprising MoEA, MoE, MoF, land commission, royal education council and DHI, is being formed under the chairmanship of the MoEA secretary to develop the framework for establishing such cities and for soliciting interest from firms.”

The minister said that establishing such cities was part of the manifesto of DPT and government policy for accelerated economic development.

MoEA secretary Dasho Sonam Tshering said, “Since the investment proposal is of such a size and land intensive, the government will have too discuss, see what we want and do a feasibility study.”

On the financing part, the Infinity group itself will be putting in around Rs 1 billion and will aim to raise the rest through floating shares. The revenue for the project will come in through developing and leasing various educational facilities to the universities or companies.

Palden said that Bhutan would be a good location for the project due to its pristine environment, political stability and because it can provide the same quality of education being charged at 50,000 to 60,000 dollars annually abroad at around 15,000 dollars in Bhutan. He said that Infinity was in discussion with many ivy-league universities in the U.S. and other countries and some of them had expressed interest.

The royal education council had come up with a similar idea last year, but it remained as such and was not taken up with the government or the present council.

Palden Tshering is being assisted by his employee and cousin Dasho Palden Thinley.

Palden Tshering clarified, “I interviewed 17 graduates and Palden Thinley was the best candidate. I’m not using him for contacts since I have my own contacts as a former Kuensel reporter, a current businessman and education consultant.”

He also clarified that Infinity was looking at a 100 percent FDI investment and he himself was not investing any money, but would be associated with the project on a long-term basis.

By Tenzing Lamsang

Investment Opportunities in Bhutan

Introduction:

Bhutan is out of its own Isolation from rest of the world by joining United Nations in 1971. It took very swift turn by monetizing its economy and progressed in development. By the year 1999, Bhutan was ready for the acceptance of Modern Media and Internet High Way in the Country. In the same year, the supreme leader of the country....the 4th King, declared to abdicate his throne and give the country a change in the political system from Monarchy to Democracy. The year 2008 witnessed series of changes in the country. Coronation of our new king to signing of the new charter by the king giving his power to the people. Now, Bhutan is ready to face the challenges of Globalization. The most of the bureaucratically designed rules and regulations are being straightened and business environments are being reconditioned. However, the wind of change is fierce here in Bhutan. We have lots of business opportunities both for the Foreign Direct Investors as well as National Investors- especially in the field of Constructions, IT, Tourism, Banking, Investment and Hotel Industries. Bhutan has hired the Mickensy Consultancy Firm to advise on the making of conducive business establishment environment. Therefore, Investors from all over the world can look for the investment in Bhutan.

Who Am I ?

I am a young but qualified budding entrepreneur. I have the passion to see business entities growing under my nose. I am a MBA-Finance, graduated from the Maastricht School of Management(www.msm.nl ), the Netherlands, done my Post Graduation in Financial Management and did my Bachelor in Commerce with Honors (B.Com(Hons)) from Delhi University. I worked as a Civil Service for almost 10 years, in the full capacity of CFO in the different Ministries. Interestingly, I had to know all the government and private rules and regulations in order to make a sound judgment and decision in the critical times. This has given me the competitive edge of rowing the business entities appropriately without capsizing it.

What I am doing now?

I am a Freelance Business Consultant. I am right now working on the establishment of Second Private College in Bhutan. It is a Million Dollar Project. I am also doing offline Real Estate Business in different parts of the country. I have invested quite good sum of money in buy lands especially for setting up of Hotels and Disney Like Park in different parts of the country. I am also eying on Tourism business and Educational Business. I have three projects at hand which I am going to launch by the year 2010.

Why I am doing Business?

My aim of doing business is not to be wealthy but rich. I want to teach my countrymen what business means. I want to promote Corporate Social Responsibility (CSR) especially in allivation of rural poverty and minimizing rural urban migrations. I want to help those underprivileged girls and boys to acquire their basic education and decent living. I am also planing to establish old people's home for those senior citizens where they can meet their friends and make friends when they are old. Another reasons why I am in the business world is this is forum where I will have an opportunity to meet people from different parts of the world doing business with me.

What I want my potential Business Partners to do and What Can I do for you?

I am looking for the genuine business angels who would like to invest in building hotels, colleges, Institutes in Bhutan. Business Angels, who has the vision to establish good Financial Management and Engineering Colleges which can attract foreign students (90%) and Nationals(10%) in the country. I am also looking for Tour Agents in USA, Europe, Russia, China, Japan, Australia, Eastern Europe, India and Latin America, who can work with me here in Bhutan by sending their tourist and promote the tour packages in their country. Some Business Angels can invest in Real Estate in Bhutan ( We can Construct the building and sell off to the clients at a reasonable rates). The Land value in Bhutan is shooting up in every nook and corner of the country. Therefore, genuine investors can contact me for more business discussions.

How can you Reach me?

You can call me in my mobile No. +975-77256540 at anytime (24/7) or email me at businessrai@gmail.com or yakherder2004@druknet.bt . Feel free to express your interest, your queries and any other business issues. You can skype me at business.rai or you can chat with me in yahoo as business.rai39 or msn at jb_rai.

Disclaimers:

I shall not be liable for any kind of losses ( materials or non materials, Mental or psychological) happened to the any parties connected to this blog and suffered losses due to their own non prudence judgement. Please I am blogging this information with the hope to meet genuine investors and our legal contract will come to effect only after signing the formal contracts. And all the legal issues will be dealt only in Bhutan.