We believe that the first IT Park reaching this milestone has clearly shown that the IT and IT Enabled Services industry hold a huge potential for helping Bhutan meet the dual challenges of youth unemployment and trade deficit which was recently reported to have reached Nu. 32.8 Billion last year.
The first IT Park of Bhutan was developed under a DBFOOT (Design, Build, Finance, Own, Operate, Transfer) Public Private Partnership model with funding support from the World Bank. The build phase was completed on 30 April 2012, and the operations phase started from May 2012. Initially, 74% of the shares of Thimphu TechPark Pvt. Ltd. was owned by a foreign company based in Singapore, Assetz Property Group (APG) and DHI owned the remaing 26%. In October 2014, APG transferred all of its shares to DHI and the name of the company was changed to Thimphu TechPark Ltd. Today, DHI holds 51% of the shares and Bhutan Telecom holds the remaining 49% of the shares in the company.