Bhutan aims to sell Southeast Asia on its 21-year ‘mindfulness city’ project

The tiny Himalayan kingdom is looking to raise US$100 million to get its planned special administrative region off the ground

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A Bhutanese man looks out over mountains in the South Asian nation. Photo: AFP

Published: 10:04am, 11 Nov 2024Updated: 9:39am, 12 Nov 2024

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 US$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, officials said.

The city will promote walking and cycling to reduce emissions, green spaces for meditation and relaxation, mindfulness-based education, public community activities, healthcare and wellness centres, and ecotourism, they said.

GMC will be spread over an area of more than 2,500 sq km (965 square 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.

Bhutan, a country of less than 800,000 people wedged between India and China, has been struggling to boost its economy. Photo: Chris Dwyer

A Bhutanese sovereign development body announced on Monday the launch of a fixed-term deposit programme to raise funds from non-resident Bhutanese to help build an international airport and other foundational infrastructure in GMC.