September 6: Bhutan will soon have an IT Park in Babesa. A contract was signed between a Singapore based company, Assetz Property group and Druk Holdings and Investments Ltd yesterday. It is a joint venture project. 

The contract was signed by the director of the department of information technology, Tenzin Chhoeda and the CEO of Assetz Property Group, Mike Holland.

Speaking at the signing, the information and communications minister, Lyonpo Nandalal Rai said the project will go a long way in fulfilling the vision to create a vibrant and sustainable knowledge-based economy, in harmony with the principles of Gross National Happiness.

The minister also said that the Park would enable Bhutanese business homes to enhance their potential through IT.

Of the total venture, DHI will invest 26 percent, while 74 percent will be invested by Assetz Property Group. 

According to the deputy director for the private sector development project, Kesang, the park is expected to complete by September 2011 and will create about 700 jobs.

A total of 5 acres of land has been allocated for the park.