Former Prime Minister Tshering Tobgay has been elected as the Prime Minister of Bhutan in parliamentary elections. Tobgay's victory indicates that the people of Bhutan are looking to him to rebuild the economy, address the ongoing migration crisis, and strengthen ties with India and Tibet amidst border negotiations with China [2573d667]. The People's Democratic Party (PDP), led by Tobgay, won 30 out of 47 seats in the National Assembly. Tobgay plans to implement a 12-point economic transformation plan to turn Bhutan into a developed nation by 2047. He aims to attract foreign direct investment, improve ease of doing business, boost export and tourism levels, and accelerate hydropower and renewable energy generation [2573d667]. The election was closely watched by India due to Bhutan's ongoing border negotiations with China. Bhutan and China are focused on resolving disputes in the Doklam plateau and other areas near the India-Bhutan-China border. Bhutan is expected to consider India's interests in these negotiations. China has continued settlement construction across the contested border, raising concerns about the permanent acquisition of Bhutanese territory by China [2573d667]. Tobgay's election is expected to bring more sensitivity towards India and open conversations with India regarding the border negotiations with China [2573d667].
Bhutan began voting in general elections as the country faces economic challenges and strives to maintain its 'national happiness' index. Both parties contesting the vote are committed to measuring success by the 'happiness and well-being of the people'. Bhutan's youth unemployment rate stands at 29%, and economic growth has averaged 1.7% over the past five years. Many young citizens have left the country in search of better opportunities abroad. The tourism industry, a key earner of foreign currency, has yet to recover from the disruptions of the Covid pandemic. Both parties have pledged to invest in hydropower, the country's primary source of energy. Bhutan held elections for the first time in 2008 after political reforms established a bicameral parliament. Bhutan, sandwiched between China and India, is closely watched by both neighbors due to strategic contested border zones [7f2d5ea4].
Bhutan is facing an economic crisis, with youth unemployment rates of nearly 30% and about one in eight people living in poverty. The newly elected Prime Minister, Tshering Tobgay, acknowledges the need to grow the economy but emphasizes that the tenets of 'Gross National Happiness' (GNH) will not be abandoned. Bhutan aims to strengthen its economy in a sustainable, equitable, and balanced manner, focusing on social progress, environmental protection, cultural preservation, and good governance. The country has been cautious in its approach to tourism, with a 'high value, low volume' strategy. Bhutan's tourism industry is recovering slower than other countries in Asia, and the country has adjusted its 'Sustainable Development Fee' multiple times. Despite the economic challenges, Bhutan remains committed to sustainable tourism and hopes to generate jobs for its youth. Thousands of young Bhutanese workers have left the country in search of employment opportunities abroad. Bhutan aims to strengthen its economy through tourism and other interventions to encourage these workers to return home [460e757d].
The Gelephu project, initiated by the fifth King of Bhutan, offers hope for the nation's future. The project has sparked both pessimism and optimism, with concerns about its scale and potential weaknesses. However, the project is seen as a way to revive the nation's economy, which has been struggling due to the COVID-19 pandemic and the failure of hydropower projects. The project aims to create an enabling environment for innovation and creativity, which are seen as the engines of economic growth in the information age. The fifth King has implemented significant reforms in education and civil service, addressing long-standing issues and demonstrating strong leadership. The project requires public support and participation to achieve its promise, and the King has called on the Bhutanese people to stand with him and build a better future for the country [899409e0].