Bhutan Development Update, April 2021
Although Bhutan has made progress in recent years, notably by initiating the development of a domestic e-commerce ecosystem, gaps still remain. The Royal Government of Bhutan (RGoB) has prioritized information and communications technology (ICT) de...
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| Language: | English |
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World Bank, Washington, DC
2021
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| Online Access: | http://documents.worldbank.org/curated/en/775561619508206861/Bhutan-Development-Update-Special-Topic-Ramping-up-e-trade http://hdl.handle.net/10986/35510 |
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okr-10986-355102021-09-16T23:17:23Z Bhutan Development Update, April 2021 World Bank ECONOMIC GROWTH MONETARY POLICY FISCAL TRENDS EXTERNAL SECTOR DEBT SERVICE BURDEN DEBT SUSTAINABILITY ECONOMIC OUTLOOK RISKS E-TRADE TRADE POLICY BUSINESS ENVIRONMENT TRADE REGULATION Although Bhutan has made progress in recent years, notably by initiating the development of a domestic e-commerce ecosystem, gaps still remain. The Royal Government of Bhutan (RGoB) has prioritized information and communications technology (ICT) development to promote the vision of ‘an ICT-enabled, knowledge society as a foundation for Gross National Happiness.’ Initiatives, such as the Digital DrukYul flagship program, the guidelines on e-commerce and the e-commerce Policy Framework, aim to increase Bhutan’s digitalization and participation in e-commerce. Yet, constraints in the e-trade environment, such as limited Internet connectivity, high costs of payment transactions, an incomplete regulatory infrastructure, and high trade facilitation and logistics costs, still hold Bhutan back, resulting in low levels of e-trade participation at present. The special focus section assesses the main regulatory and trade facilitation priorities for digital trade in Bhutan and makes concrete proposals to develop the country’s e-trade framework. The development of Bhutan’s digital economy and e-trade is contingent on a number of complementary factors including reliable Internet connectivity, mobile and computer penetration, digital literacy, availability of efficient logistical and payment systems, and relevant infrastructure to facilitate those factors. E-trade in goods and services also requires supporting policies in areas such as data protection, cyber security, consumer protection, competition law and the recognition of e-signatures and electronic transactions, which are the basic building blocks of all business online. 2021-04-27T13:21:50Z 2021-04-27T13:21:50Z 2021-04-21 Report http://documents.worldbank.org/curated/en/775561619508206861/Bhutan-Development-Update-Special-Topic-Ramping-up-e-trade http://hdl.handle.net/10986/35510 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Economic Updates and Modeling South Asia Bhutan |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ECONOMIC GROWTH MONETARY POLICY FISCAL TRENDS EXTERNAL SECTOR DEBT SERVICE BURDEN DEBT SUSTAINABILITY ECONOMIC OUTLOOK RISKS E-TRADE TRADE POLICY BUSINESS ENVIRONMENT TRADE REGULATION |
| spellingShingle |
ECONOMIC GROWTH MONETARY POLICY FISCAL TRENDS EXTERNAL SECTOR DEBT SERVICE BURDEN DEBT SUSTAINABILITY ECONOMIC OUTLOOK RISKS E-TRADE TRADE POLICY BUSINESS ENVIRONMENT TRADE REGULATION World Bank Bhutan Development Update, April 2021 |
| geographic_facet |
South Asia Bhutan |
| description |
Although Bhutan has made progress in
recent years, notably by initiating the development of a
domestic e-commerce ecosystem, gaps still remain. The Royal
Government of Bhutan (RGoB) has prioritized information and
communications technology (ICT) development to promote the
vision of ‘an ICT-enabled, knowledge society as a foundation
for Gross National Happiness.’ Initiatives, such as the
Digital DrukYul flagship program, the guidelines on
e-commerce and the e-commerce Policy Framework, aim to
increase Bhutan’s digitalization and participation in
e-commerce. Yet, constraints in the e-trade environment,
such as limited Internet connectivity, high costs of payment
transactions, an incomplete regulatory infrastructure, and
high trade facilitation and logistics costs, still hold
Bhutan back, resulting in low levels of e-trade
participation at present. The special focus section assesses
the main regulatory and trade facilitation priorities for
digital trade in Bhutan and makes concrete proposals to
develop the country’s e-trade framework. The development of
Bhutan’s digital economy and e-trade is contingent on a
number of complementary factors including reliable Internet
connectivity, mobile and computer penetration, digital
literacy, availability of efficient logistical and payment
systems, and relevant infrastructure to facilitate those
factors. E-trade in goods and services also requires
supporting policies in areas such as data protection, cyber
security, consumer protection, competition law and the
recognition of e-signatures and electronic transactions,
which are the basic building blocks of all business online. |
| format |
Report |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Bhutan Development Update, April 2021 |
| title_short |
Bhutan Development Update, April 2021 |
| title_full |
Bhutan Development Update, April 2021 |
| title_fullStr |
Bhutan Development Update, April 2021 |
| title_full_unstemmed |
Bhutan Development Update, April 2021 |
| title_sort |
bhutan development update, april 2021 |
| publisher |
World Bank, Washington, DC |
| publishDate |
2021 |
| url |
http://documents.worldbank.org/curated/en/775561619508206861/Bhutan-Development-Update-Special-Topic-Ramping-up-e-trade http://hdl.handle.net/10986/35510 |
| _version_ |
1764483184326606848 |