Press Release and Response
- DHI BizAP Closing Ceremony
- DHI BizAP Press Release
- Druk Metallurgy Limited Press Release
- Appointment of DHI Chairman
- Appointment of DHI Chief Executive Officer
- DOC Cup Press Release
- Leadership and Change Management Workshop for Senior Executives of DHI Companies
- DHI and DHI Owned Companies to support and promote Local Bhutanese Products
- Signing Of Memorandum of Understanding between DHI, HI and AFF
- Bhutan To Host First Better Business Summit
- Shareholders' Agreement - DHI and SBI
- Initial Public Offering (IPO) of Dungsum Polymers Limited
- DHI & Contract Employment
DHI merges WCCL with NRDCL to achieve Strategic Realignment and Synergy
The DHI and its Group of Companies are mandated to venture into businesses that are Strategic, Necessary and Purposeful. Consistent with DHI's overarching mandate, the merger is implemented to achieve strategic realignment of WCCL's business activities in the wood-based industry. The WCCL played a critical role to promote wood-based industry (furniture making) in the past. However, it can no longer remain in direct competition with the private sector.
DHI is looking at a bigger game changing strategy in the construction industry. Among others, the amalgamated entity will consider factory-based production of fixtures, fittings, and value-added timber products to meet the demands of the construction industry. This should result in efficiency gains compared to the current norm of cost-intensive carpentry works at individual construction sites, and also reduce our dependence on foreign workers.
Additionally, through adoption of appropriate technology and best practices to minimize wastage of timber along the value chain, the amalgamated entity shall play a critical role in price discovery and price stabilization of timber-based basic construction materials.
It should set industry benchmarks and reinforce the mandate of making timber resources affordable, available and accessible to the general public.
The amalgamation is in the form of takeover of the WCCL by the NRDCL. The WCCL shall cease to exist from the 1st of April 2021 and the NRDCL will continue to exist as a going concern with all the assets and liabilities of the WCCL transferred to NRDCL.
DHI Business Acceleration Program (DHI BizAP)
The third cohort of 19 Entrepreneurs working in the cottage and small industry sector graduated from the 3-month long DHI Business Acceleration Program (DHI BizAP) Training. From the 39 entrepreneurs who had applied, 19 were selected for training and 18 graduated. The program is conducted in partnership with University of Texas at Austin, USA with focus on clearly understanding the dynamics and optimizing one's own business and increasing market penetration.
Opportunity was provided to the graduates to pitch for the collateral free DHI Business Acceleration Fund. 11 graduates pitched for the fund, of which 9 of the entrepreneurs have been approved for funding. The financing has a gratis period of 1 year and a repayment period of 5 years. The financing is provided to address the gaps in access to finance and based purely on the credibility of the entrepreneur and the business plan.
The Entrepreneurs would now be provided with opportunity to avail mentorship services. Business persons from varying sectors have volunteered their services to guide the entrepreneurs to their full potential. Besides the opportunity of networking, the insights and advice provided by the mentors help the Entrepreneurs maneuver through many challenges. 23 business persons are supporting the initiative as Voluntary mentors.
The DHI Entrepreneurship Team regularly monitors the entrepreneurs and the growth of their business by conducting site visits and organizing networking forums.
Over the period of a year, DHI has conducted three DHI BizAP training programs and a total of 60 entrepreneurs have successfully completed and graduated from the training. A total fund of Nu. 17,000,000 has already been sanctioned by DHI to support these entrepreneurs.
The DHI Business Program is being conducted in line with the DHI mandate to promote the private sector, and promote entrepreneurship and business development.
(For further details, please contact Mrs. Lhakyi Tenzing @ firstname.lastname@example.org)
Graduation Ceremony (Cohort 1)
DHI Business Acceleration Program (DHI BizAP)
Thimphu: The Governor of Royal Monetary Authority, Hon'ble Dasho Penjore was the chief guest for the closing ceremony for the DHI Business Acceleration Program (DHI BizAP) held on 22nd January at DCSI Start Up Center, Changzamtog Thimphu.
As part of the capacity development for existing entrepreneurs, DHI launched BizAP on October 13, 2018 coinciding with Royal Wedding Anniversary of their Majesties. The hands-on advanced level entrepreneurship training was delivered in Thimphu from October 2018 to January 2019 by global experts in innovation and entrepreneurship. The training sharpened entrepreneur's value proposition, defined target market, sought market feedback on product/technology and determined effective business model for an enterprise. 25 entrepreneurs were selected and all participants successfully completed the program. The participants had undergone 33 days of training spread over 3 months with a balanced mixture of face-to face, virtual classes and assignments considering that the entrepreneurs have to focus on their business during the training period.
DHI hired the services of IC2 Institute under the University of Texas, USA as a partner Institute for their proven entrepreneurship training methodology, over which they maintain Intellectual Property rights, and has enjoyed tremendous success in over 30 countries around the world. This international entrepreneurship program has created more than USD $1Billion in economic impact worldwide in the last 10 years. The programs have taught best practices in technology transfer, entrepreneurship, incubation management and commercial acceleration of new enterprises.
Further to ease the access to financing needed for accelerating and expanding the business, DHI has established a DHI Business Acceleration Fund to provide collateral free financing for the entrepreneur's contribution to their business. In the coming week, BizAP graduates will pitch their business plans to the investment panel to secure financial support from DHI Business Acceleration Fund.
In addition, DHI will support the entrepreneurs in establishing mentoring relationships to aid the entrepreneurs in setting up and running their business successfully. Mentoring will pair the entrepreneurs, who have undergone the training program, with local or international entrepreneurs who can offer strategic advice with respect to accelerating the business. DHI will also monitor and evaluate the performance of the entrepreneurs and their businesses from time to time to ensure the success of the venture.