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The Star
an hour ago
- Business
- The Star
Vietnam president hosts welcome ceremony for King and Queen of Bhutan
State President Luong Cuong and spouse greeting King Jigme Khesar Namgyel Wangchuck of Bhutan and the Queen at the official welcome ceremony in Hanoi on Aug 19. — VNA/VNS HANOI: State President Luong Cuong and his spouse Nguyen Thi Minh Nguyet hosted a red-carpet welcome ceremony in Hanoi on Tuesday for King Jigme Khesar Namgyel Wangchuck and Queen Jetsun Pema Wangchuck of Bhutan, who are on a state visit to Vietnam from Aug 18 to 22. The ceremonial welcome included a military honour guard inspection, the playing of both countries' national anthems, and the presentation of flower bouquets by local children. Following the ceremony, President Luong Cuong and King Jigme Khesar Namgyel Wangchuck held talks, discussing orientations for future cooperation. This is the first state visit to Vietnam by the King and Queen of Bhutan since the two countries established diplomatic relations in 2012, marking an important milestone in bilateral relations. It demonstrates the importance Bhutan attaches to the friendship and cooperation with Vietnam, as well as to the latter's role and stature in the region. The visit also exemplifies Vietnam's foreign policy of independence, self-reliance, and multilateralisation and diversification of external relations for peace, cooperation, and development. Both sides have enjoyed a strong friendship since the establishment of diplomatic ties. Viietnam has consistently valued its relations with Bhutan, regarding the latter as a pioneer in pursuing green growth and maintaining high 'happiness' indicators. Meanwhile, Bhutan considers Vietnam a priority partner for strengthening relations with and is keen to learn from Vietnam's development experience. High-ranking leaders from both countries have regularly exchanged congratulatory messages on important national anniversaries and maintain mutual visits at all levels. The countries' appointment of ambassadors shortly after establishing diplomatic ties gave strong momentum to bilateral cooperation. Tourism is seen as a highlight of bilateral relations, with an increasing number of Vietnamese travellers drawn to Bhutan, known for its pristine landscapes, Buddhist heritage, and Gross National Happiness, and Bhutanese visitors showing growing interest in Vietnam's people, heritage, and scenic attractions. While investment and trade cooperation remains modest, more and more Vietnamese businesses are coming to operate in Bhutan. Vietnam currently maintains one registered investment project in the field of interior design and construction in Bhutan. Both countries recognise significant untapped potential for enhanced cooperation in agriculture, tourism, culture, education, science and technology, digital transformation, and green development. At multilateral forums, they have maintained close coordination and mutual support, particularly within the UN, Asean Inter-Parliamentary Assembly (AIPA), Asian Parliamentary Assembly (APA), as well as in regional and international issues of mutual concerns. — Vietnam News/ANN
Business Insider
31-07-2025
- Business Insider
I enjoyed my first organized tour of a country, but I wouldn't book another until I'm much older
Last May, my friends and I went on a girls' trip to Bhutan. Before heading to the Asian country, we read that it's mandatory (and highly encouraged) to be accompanied by an accredited guide when visiting certain areas and monuments in Bhutan. So, we booked an eight-night organized tour with a professional from a local company. Despite visiting over 50 countries, I'd never actually done an organized tour, as I've always preferred to travel independently. Although I had a mostly great experience, I can't say I'll be booking organized tours of other destinations anytime soon. The tour was convenient, and our guide was an incredible resource throughout the trip Our guide had been a trekking and cultural guide for more than 30 years, so his understanding of the history, culture, and natural environment of Bhutan was unbelievable. We hit him with every question imaginable, and he never faltered. Whether talking about the government philosophy of Gross National Happiness, the history of Tiger's Nest monastery, or how to find cordyceps (a valuable fungi some locals collect), the man knew his stuff. Having a human encyclopedia on hand was handy and made each stop far more interesting. He also translated for us while we were staying with host families in remote locations. This allowed us to connect with the locals on a deeper level, which definitely enriched our experience. In many ways, he just made our trip easier. It was incredibly convenient having someone else take care of the finer travel details, like where we were staying and how we'd get there. Doing an organized tour meant I could kick back and relax while someone else was at the helm. By the end of the trip, I definitely felt recharged. However, the limited flexibility and costs of organized tours aren't ideal for me When I travel, I usually don't follow a detailed itinerary. I know the main sites I want to see, but I like to leave room for chance encounters — to be seduced by a destination and even derailed from my timetable. An organized tour, by definition, means everything is set up in advance. Instead of wandering around aimlessly or making last-minute stops, we mostly stuck to our schedule. Though our guide was accommodating when we wanted to mix up a few activities — for example, when we decided to go white-water rafting, which wasn't part of the original plan — I didn't feel like there were heaps of opportunities for spontaneous exploration. Generally, organized tours also tend to be more expensive than independent travel. Prices widely vary by place and type of trip, but the tour we chose costs thousands of dollars a person. Booking high-cost tours isn't always practical, especially when traveling on the cheap has allowed me to go on so many trips in the first place. When traveling on my own, I can choose where to spend my money and cut back as needed and within my own comfort levels. There are also more opportunities to use credit-card points or loyalty rewards on accommodations or to find budget-friendly options. Despite the positive experience, I doubt I'll book another tour anytime soon Bhutan was a special destination where a tour guide was necessary, and our tour felt like a good value for the money. There's a lot to be said for having a knowledgeable expert on your team to navigate and translate on your behalf. However, I probably wouldn't do an organized tour of another country — at least, not right now while I'm in my 40s. I enjoy travelling independently and leaving plenty of room for spontaneity. I'd consider doing one again in the future, though. As an older traveler, I'd appreciate having a preplanned schedule and not needing to worry about planning tons of logistics on my own. Plus, ideally, I'll be working with a bigger travel budget once I'm retired and have continued growing my savings. Extra cash could certainly make tour costs a little more palatable.
Business Times
18-07-2025
- Business
- Business Times
Bhutan's double bet: Mindfulness and nature to drive tourism and investment
[KUALA LUMPUR] Bhutan, long regarded as one of the world's most serene and isolated destinations, is opening a new chapter – one that seeks to blend its spiritual heritage with modern economic ambitions. At the heart of this transformation is the Gelephu Mindfulness City (GMC), a transformative urban project in southern Bhutan designed to attract high-quality foreign direct investment while preserving the kingdom's ethos of Gross National Happiness. Envisioned as both an economic and spiritual hub, the Mindfulness City represents a bold experiment in development where governance is rooted in Bhutanese values, yet informed by globally recognised frameworks for transparency, regulation and innovation. In June, Bhutan Prime Minister Tshering Tobgay, welcomed about 20 guests, including invited Singaporean media by Chan Brothers Travel, to an exclusive meeting in his office at the capital city Thimphu. Dressed in a traditional gho, the prime minister shared that construction for a new international airport in Gelephu is set to begin in early July, marking a significant milestone for the US$100 billion GMC development – a landmark project designed to attract global investment while preserving Bhutan's cultural and environmental heritage. Paro International Airport is nestled among 5,000 m peaks and is accessible to only 50 specially trained pilots worldwide. PHOTO: TAN AI LENG, BT Strategically located near the Indian border, the airport is intended to serve as Bhutan's second international gateway, easing the burden on Paro International Airport – currently the only port of entry for air travellers. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up Spanning 731,946 square feet, the new airport is designed to handle up to 123 flights daily and 1.3 million passengers annually, according to Danish architecture firm Bjarke Ingels Group, which is leading the airport's design. Though modest by regional standards, the facility is a major leap for a Himalayan kingdom that caps tourist arrivals at 300,000 annually. Before clearing immigration and customs, tourists have the unique opportunity to take pictures on the tarmac at Paro International Airport. PHOTO: TAN AI LENG, BT Nestled among 5,000 m peaks, Paro International Airport demands exceptional skill. Only about 50 pilots globally are certified for its challenging, manual and no-radar landings. The new Gelephu airport is expected to transform accessibility and signal Bhutan's readiness to welcome a new wave of visitors, investors and innovators. Former CapitaLand chief executive officer Liew Mun Leong was appointed as CEO of GMC in October 2024. He now oversees the city's strategic direction, infrastructure roll-out and global partnerships. 'GMC is a carefully designed special administrative region – what I call our micro state, three times the size of Singapore, with its own set of rules and regulations,' said the 60-year-old premier. A gateway to growth Bhutan Prime Minister Tshering Tobgay (left) and Chan Guat Cheng, executive director of Chan Brothers Travel, at an exclusive meeting in Bhutan. PHOTO: CHAN BROTHERS TRAVEL GMC, which spans more than 2,500 square kilometres, will be developed in phases over the next 21 years. It is envisioned as a future-ready city hosting sectors as diverse as finance, green energy, education, healthcare, logistics and spirituality – all anchored in sustainability and well-being. To fund early development, the Bhutanese government launched the Gelephu Mindfulness City Nation Building Bond (GNBB) in December 2024. By June 2025, the initiative had raised 3.3 billion ngultrum (S$49.1 million), well above its original target of two billion ngultrum. Singapore has played an instrumental role in advising Bhutan on the legal and institutional design of GMC. The city-state's legal system has inspired the adoption of 18 Singaporean laws into GMC's framework – covering company incorporation, employment law and taxation. 'Singapore is a role model we would like to adopt,' said Tobgay, pointing to the country's strengths in governance, regulation and long-term planning. Reversing the brain drain Tour guides and drivers in Bhutan. According to one of them, it is not uncommon for locals to be proficient in at least four languages, largely attributable to the government's provision of free basic education. PHOTO: CHAN BROTHERS TRAVEL Beyond economic development, GMC is a strategic response to one of Bhutan's most pressing challenges: brain drain. In 2024, youth unemployment was at 19 per cent, prompting many young Bhutanese to seek opportunities overseas – particularly in Australia. The trend has deepened over the past decade, with estimates suggesting that between 50,000 and 65,000 Bhutanese have migrated abroad in the last eight years. 'We are not stopping young talent from going out and exploring the world… But if they don't return, a small country like ours will suffer. In some ways, we are the victims of our own success,' Tobgay lamented. Bhutan offers 12 years of free public education, and youth literacy rates are nearing 100 per cent. More than 1,100 schools span the country, and enrolment among children aged six to 12 is over 98 per cent. 'We hope to create more job opportunities, good-quality and higher paying jobs for Bhutanese via GMC,' said Tobgay, who himself once revealed that he struggled to find a suitable job after returning to Bhutan from Harvard. In Bhutanese monasteries, it is common to see elderly devotees bowing and praying reverently on their hands and knees. PHOTO: TAN AI LENG, BT Bhutan's cultural identity remains resilient despite the external pull factors. Traditional attire – gho for men and kira for women – remains common in everyday life. Despite its undeveloped, rustic charm, the country reveals an unexpected intellectual depth. Travellers are frequently amazed by the locals' strong command of English and their widespread multilingual abilities, with many tour guides proficient in at least four languages. Dago Tshering, who guided the media, is fluent in six languages: Dzongkha, English, Mandarin, Hindi, Japanese and German. Despite receiving offers to work overseas, he chose to remain in Bhutan. His reason was simple – family and the simplicity of life back home. Bhutan's home-grown brand Mountain Cafe, which sources and roasts beans from local farmers. PHOTO: TAN AI LENG, BT Echoing this principle, even if Bhutan is opening its doors to foreign investment, Minister of Industry, Commerce and Employment Lyonpo Namgyal Dorji emphasised that collaborations will be carefully selected to align with the country's values-driven development approach. 'In principle, it is not necessary for us to import foreign brands, if we have our own alternative and better options,' said Dorji in a meeting with the media. He pointed to the home-grown brand Mountain Cafe, which sources and roasts beans from local farmers. 'Even without international franchises like Starbucks, we are not feeling deprived. We hope to offer tourists something unique that only could be found in Bhutan,' he added. South-east Asia tourists in focus Tashichho Dzong, a prominent fortress and Buddhist monastery in Thimphu, Bhutan. This spiritual nation is home to over 2,000 monasteries and temples. PHOTO: TAN AI LENG, BT As hydropower and agriculture continue to dominate its economy, Bhutan's government recognises diversification as crucial for sustainable growth and long-term resilience. Tourism, which presently accounts for about 10 per cent of Bhutanese gross domestic product, is targeted for revitalisation with an ambitious goal: to boost its contribution to 15 per cent by 2030, returning to pre-pandemic levels. But Bhutan remains committed to its 'low volume, high value' approach. Rather than attracting mass tourism, the country aims to offer curated experiences focused on culture, wellness and nature. One of the must-visit destinations in Bhutan, the Tiger's Nest Monastery. The temple, which perches at 3,120 metres, draws thousands of tourists annually. PHOTO: TAN AI LENG, BT Known as the 'Land of the Thunder Dragon', Bhutan is home to more than 2,000 monasteries and temples. One of the most famous, the Tiger's Nest Monastery, which perches at 3,120 metres, draws thousands annually. But the prime minister said there are still more hidden gems for tourists to explore in Bhutan. 'We want visitors to go beyond the monasteries… Cycling through our valleys, engaging with local farmers, going for a concert or even having a memorable wedding in Bhutan – these are the kinds of experiences we want to offer.' While India remains the top source of visitors, accounting for around 70 per cent of all arrivals, Bhutan is actively courting travellers from the South-east Asia region in hopes of rebalancing the ratio to 50:50 within the next few years. 'India will always be an important partner, but for Bhutan to grow as a global destination, we need to diversify,' said Dorji. To further encourage more tourists to come to Bhutan, the government has reduced its sustainable development fee to US$100 a person a night from Sep 1, 2023, from US$200 a night. In 2024, Bhutan welcomed 145,065 tourists, around 40.7 per cent higher than the 103,066 in 2023. But tourist arrivals still fall short of the 150,000 target. For 2025 and 2026, the country has set a target to attract 300,000 tourists. Rising interest from Singapore travellers Bhutan's Minister of Industry, Commerce and Employment Lyonpo Namgyal Dorji (back row, fifth from right), with representatives from Chan Brothers Travel and the media. PHOTO: CHAN BROTHERS TRAVEL Singapore, Bhutan's third-largest source of tourists after China and India, is a key focus. Last year, 3,200 Singaporeans visited Bhutan, up from the typical 2,000 annually. As at June this year, 1,200 had already arrived, suggesting continued growth. Chan Brothers Travel's executive director Chan Guat Cheng emphasised Bhutan's unique appeal: 'Singapore alone has more than five million outbound tourists annually… With a rising number of tourists seeking more nature, peace, and spiritual and adventurous travel, Bhutan stands out from others to attract more tourists.' On Jul 4, Chan Brothers Travel and Drukair formalised their partnership by signing a memorandum of understanding in Singapore. This agreement lays the groundwork for more exclusive chartered flights between Singapore and Bhutan. She noted that in response to growing interest, the number of chartered flights has expanded significantly, from six last year to a total of 30 scheduled across this year and next, reflecting strong demand for travel to Bhutan. As Chan Brothers Travel celebrates its 60th anniversary this year, the Singapore-based agency is advancing its strategic vision with a series of Bhutan tours. These tours will be operated via exclusive chartered direct flights by Drukair, Bhutan's national carrier. 'As the sole travel agency offering such privileged air access, we are looking at deepening collaboration with Bhutan's Department of Tourism,' she said.
LeMonde
09-07-2025
- LeMonde
In Bhutan, yaks are in danger in the land of happiness
On a spring evening, on the windswept plain where the horizon is blocked by the snow-capped mountains of the Tibetan border, the scenery perfectly embodied the virtues of an age-old pastoralism. Amid the splendid immensity of these lands, battered by an icy wind, herds of yaks grazed at an altitude of 4,000 meters on this plateau stretching as far as the eye could see toward the Himalayas. A little further down, the large village of Laya – the highest in the Kingdom of Bhutan – sat on the hillside, its traditional houses adorned with intricately carved wood. These big-cheeked, shaggy and horned cattle, however, have reason to worry about their future – not to mention their herders. In recent years, the species has begun to suffer the effects of climate change: pastures overrun by invasive shrubs, grazing grass becoming scarcer and of poorer quality, transhumance disrupted by the earlier arrival of spring, and shrinking herds. The threats have multiplied, in Bhutan as well as in other areas of the region (India, Tibet, China, Pakistan, the Pamir mountains in Tajikistan) where these animals have, for ages, embodied a kind of postcard image of the "happy Himalayas." For several decades, Bhutan has been known worldwide for inventing the notion of "Gross National Happiness," a unique concept enshrined in its Constitution in 2008. About 30 years earlier, in 1972, the king at the time, Jigme Singye Wangchuck – father of the current monarch – had determined that his Buddhist nation needed an index that would highlight the country's spiritual values and distinguish them from the purely capitalist ones found in the rest of the world.
South China Morning Post
04-07-2025
- Business
- South China Morning Post
Fallen world must ensure justice for future generations
Coming back from an extended conference on ' Gross National Happiness ' in Bhutan, one of the world's first carbon-negative countries, I became aware that intergenerational justice may be one of the most important moral questions we face today. The world is drowning in debt. According to the International Monetary Fund (IMF), global debt amounted to US$250 trillion in 2023, or 237 per cent of GDP, with global private debt at more than US$150 trillion. Advertisement Meanwhile, worldwide net private wealth stood at US$454.4 trillion in 2022. If global private wealth is so much larger than global debt, is the latter actually a problem? It is if the world's wealth is distributed unevenly . Around 1 per cent of the world's adult population controlled US$208.3 trillion in 2022, or 45.8 per cent of the global total. Wealth is only getting more concentrated as the rich get richer. So even while GDP is rising and stock markets are hitting record highs , many people are still unhappy because they are being left behind. Wealth is passed down from generation to generation, but with the gradual dismantling of inheritance tax in many countries and expanded tax cuts for the rich, such as in the United States , wealth has been retained in wealthy hands. The UBS Global Wealth Report 2025 forecast that 'a total global wealth transfer of over US$83 trillion within the next 20-25 years. Some US$9 trillion of this will be horizontal and over US$74 trillion will be vertical, between generations, i.e. roughly 12 per cent.' In other words, most wealth is not distributed widely but gets passed down to successors and heirs At the household level, the bottom half of society not only does not have much wealth, they are also in debt . The IMF, however, is more concerned with the rise in public debt, which is the burden of all citizens, including future generations. After all, future generations inherit not just assets but also liabilities. Advertisement The poor are also subject to higher interest rates on their debt because they are perceived as a higher credit risk. Thus, when incomes are insufficient to pay both the interest and principal, the poor – including many developing markets – get further into debt distress
