THIMPHU, 27 March, 2021 (TON): The FDI annual report of 2020 states that the Bhutan government approved 10 FDI (Foreign Direct Investment) projects amidst the pandemic last year.

Five of the projects are in the manufacturing sector and the others in the service sector.  

Although the number of approved projects declined by two from 2019, the value of the projects last year increased by 80 percent to Nu 2.104 billion (B) from Nu 1.166B.

From within Asia, India remains the major source of FDI investments in the country with 47 percent as five of the 10 projects three in Ferro Alloys; and one each in hotel and manufacture of bamboo flooring products, furniture and decorative materials are from India.

Two of the projects are IT-based and their promoters are from the US and Singapore. 

The FDIs also include an investment in growing edible oil and medicinal mushrooms from Thailand.

The other two FDIs, which are promoted by investors from Germany, are in the construction and microfinance sectors.

However, with the 10 new projects, the total number of projects today stands at 92. The government issues a certificate of FDI registration before approving the project.