Thimphu TechPark – Bhutan’s First IT Park
Thimphu TechPark (TTP) is the flagship IT development in the Kingdom of Bhutan, a kingdom located on the lap of the Eastern Himalayas, known for its strong environmental conservation policies and the unique development philosophy of Gross National Happiness.
It is the country’s first IT Park – promoted by the Department of Information Technology & Telecom, Ministry of Information & Communications, Royal Government of Bhutan, supported by the World Bank and developed jointly by Assetz Property Group of Singapore and Druk Holdings & Investments, the commercial arm of the Royal Government of Bhutan.
The operations of Thimphu TechPark started on 7th May 2012. Currently, we have a data centre, few domestic companies and seven international IT/ITES companies (Scan Cafe from the USA, ZOOP from Canada, SELISE from Switzerland, MultiRational from Australia, Southtech from Bangladesh, Bid Ocean from Canada and Data Scientists from Australia) employing more than 700 people at the IT Park. We also have an incubation centre where Bhutanese entrepreneurs can avail furnished workstation or foreign companies can run a pilot operation to test the opportunities offered by Bhutan.
To be a vibrant Technology Park providing opportunities for innovation and development, and promoting the growth of IT industry in Bhutan.
Background of Thimphu TechPark Ltd., the company that owns and operates the IT Park
Druk Holding and Investments (DHI), Bhutan, and Assetz Property Group (APG), Singapore, signed a joint venture agreement and submitted a Joint Venture bid to Design, Build, Finance, Own, Operate and Transfer (DBFOOT) the IT Park in Babesa, Thimphu under the Public-Private Partnership (PPP) model for the Department of IT and Telecom, MoIC. Subsequently, DHI and APG were awarded the contract vide letter No. DIT/35(12)/2009-10/07 dated 17 July 2009.
Thimphu TechPark Pvt. Ltd (TTPL) was duly incorporated under the Companies Act of the Kingdom of Bhutan 2000 on 24 August 2009 to undertake the IT Park Project as a developer, and the Sharedholders Agreement was signed on 29th August 2009 with DHI holding 26% and APG holding 74% of TTPL. DHI assumed full ownership of TTPL and changed its name to Thimphu TechPark Limited retaining the same acronym ‘TTPL’ after APG decided to exit from the partnership and transferred its shares to DHI in October 2014.
As a company focused on creating employment opportunities for our youth, it has an overarching social mandate.
IT Park Project Background
The initial concept document on the World Bank-led Private Sector Development Project of which IT Park is one of the three components date back to 2006. The other two components of the Project are Development of a skills program for promoting the IT/ITES industry, and Strengthening the financial sector through deployment of technology.
The Royal Government of Bhutan (RGoB) received a grant from the International Development Association (IDA) toward the cost of the Private Sector Development (PSD) Project in 2008. As a part of these initiatives, DITT/MoIC/RGoB initiated the development of a 50,000 sq ft world-class IT Park property – Thimphu TechPark – on a Public Private Partnership (PPP) model, at Babesa, on 5 acres of government land leased for 30 years renewable by two more 30-year terms based on mutual agreement.
The objectives of the project are to increase productive employment in Bhutan through promotion of enterprise development in the IT/ITES sector, enhanced IT skills, and improved access to finance. The construction phase of the IT Park was completed on 30 April 2012. The operations phase of the IT Park began from 7 May 2012.