Thimphu TechPark (TTP) is the flagship IT development in the Kingdom of Bhutan, a kingdom located on the lap of the Eastern Himalayas, known for its strong environmental conservation policies and the unique development philosophy of Gross National Happiness.
It is the country’s first IT Park – promoted by the Department of Information Technology & Telecom, Ministry of Information & Communications, Royal Government of Bhutan, supported by the World Bank and developed jointly by Assetz Property Group of Singapore and Druk Holdings & Investments, the commercial arm of the Royal Government of Bhutan.
The operations of Thimphu TechPark started on 7th May 2012. Currently, there are 8 IT/ITES companies, including 4 international companies, employing about 750 people at the IT Park.
Background of Thimphu TechPark Ltd., the company that owns and operates the IT Park
Druk Holding and Investments (DHI), Bhutan, and Assetz Property Group (APG), Singapore, signed a joint venture agreement and submitted a Joint Venture bid to Design, Build, Finance, Own, Operate and Transfer (DBFOOT) the IT Park in Babesa, Thimphu under the Public-Private Partnership (PPP) model for the Department of IT and Telecom, MoIC. Subsequently, DHI and APG were awarded the contract vide letter No. DIT/35(12)/2009-10/07 dated 17 July 2009.
Thimphu TechPark Pvt. Ltd (TTPL) was duly incorporated under the Companies Act of the Kingdom of Bhutan 2000 on 24 August 2009 to undertake the IT Park Project as a developer, and the Sharedholders Agreement was signed on 29th August 2009 with DHI holding 26% and APG holding 74% of TTPL. DHI assumed full ownership of TTPL and changed its name to Thimphu TechPark Limited retaining the same acronym ‘TTPL’ after APG decided to exit from the partnership and transferred its shares to DHI in October 2014.
As a company focused on creating employment opportunities for our youth, it has an overarching social mandate.
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