Buddhist Bhutan to build 'mindfulness city' to woo investment, create jobs

11/11/2024 12:09

        Bhutan, the Himalayan kingdom that brought the world the concept of gross national happiness, is set to build a "mindfulness city" and will launch a $100 million bond issue on Monday to help start the project.
        
        The 'Gelephu Mindfulness City' (GMC) will lie in a special administrative region with separate rules and laws that will aim to be an economic corridor linking South Asia to Southeast Asia.
        
        GMC will be spread over an area of more than 2,500 sq km (965 sq miles) on the border with giant neighbour India and offer space to businesses in finance, tourism, green energy, technology, healthcare, agriculture, aviation, logistics, education and spirituality.
        
        The 10-year GMC 'Nation Building Bond' that opens on Monday will be available for subscription by non-resident Bhutanese until Dec. 17, according to the GMC website. The funds raised will be used to build initial infrastructure, for green energy and connectivity, among others.
        
        "This ambitious project will redefine the nation's economic landscape ... paving the way for a prosperous and resilient Bhutan," said Lotay Tshering, GMC's governor and a former prime minister.