Gelephu, Bhutan – Bhutan has long been synonymous with its philosophy of Gross National Happiness (GNH), blending economic progress with cultural preservation and environmental sustainability. Building on this legacy, the country is embarking on its most ambitious project yet: Gelephu Mindfulness City (GMC). Spanning 2,500 square kilometers in Southern Bhutan, GMC aims to become a global model for mindful living, economic growth, and environmental harmony.

Announced on Bhutan's National Day in December 2023 by His Majesty King Jigme Khesar Namgyel Wangchuck, GMC encapsulates Bhutan’s aspirations for a sustainable future. The city is envisioned as a Special Administrative Region (SAR) designed to foster innovation across key industries, including green energy, health, education, finance, and spirituality.

Bhutan Innovation Forum: Laying the Groundwork for GMC’s Success
The Bhutan Innovation Forum (BIF), organized by Druk Holding and Investments (DHI), served as a launching pad for GMC's grand vision. With over 70 eminent speakers, including Evan Spiegel (CEO, Snap Inc.), Nobel laureates Joseph Stiglitz and Michael Spence, and world-renowned architect Bjarke Ingels, the forum highlighted Bhutan's commitment to attracting global expertise.

Evan Spiegel praised Bhutan’s focus on mindfulness, emphasizing its role in fostering innovation. Nobel economist Joseph Stiglitz lauded the forum's potential to revolutionize societal learning capabilities, setting a benchmark for global collaboration.

Discussions at the forum revolved around GMC’s core philosophy: blending economic transformation with mindfulness principles. This vision resonated deeply with international participants, generating excitement about Bhutan’s unique development model.

GMC: A Sustainable Urban Model
The Gelephu Mindfulness City project revolves around seven key economic clusters:

• Spirituality
• Health and Wellness
• Education and Knowledge
• Green Energy and Tech
• Finance and Digital Assets
• Agri-Tech and Forestry
• Aviation and Logistics

GMC’s development will adhere to a phased approach, with initial efforts focusing on infrastructure, including the extension of Gelephu’s international airport. Collaboration with international partners like Changi Airport Group ensures a global standard for connectivity and logistics.

The city will operate with independent governance systems for executive, legislative, and judicial functions, fostering transparency and accountability. This structure ensures an investor-friendly environment, blending Bhutanese cultural values with global best practices.

Financing the Vision: The GMC Nation Building Bond
To ensure wide participation, Bhutan will launch the GMC Nation Building Bond, allowing citizens to invest in this transformative project. With a 10-year term and proposed coupon rates of 10% for Ngultrum and 4% for foreign currencies, the bond mirrors the success of Bhutan's Druk Green Power Corporation bonds.

The bond will also feature low-entry investment options, enabling Bhutanese citizens, including those living abroad, to contribute to their nation’s growth.

Economic Strategy: Leveraging Natural and Human Resources
Bhutan’s pristine ecosystems and renewable energy resources provide the perfect foundation for GMC’s success. The initiative aims to enhance youth employment, address outward migration, and support agricultural growth. Collaborations with family offices and ethical investors are underway, positioning GMC as a gateway to South Asia for sustainable enterprises.

In line with Bhutan’s vision, GMC will also introduce TER, a digital currency backed by physical gold. This blockchain-based currency will ensure transparency, reduce transaction costs, and integrate seamlessly with Bhutan’s economy.

Global Expertise Driving Development
GMC has partnered with renowned international experts to ensure the project’s success:

• Bjarke Ingels Group (BIG): Urban design and architecture.
• Changi Airport Group: Airport development and logistics.
• Magnolia Quality Development Corporation Limited (MQDC): Project management.
• NACO: Airport feasibility and planning.
• ERM: Wildlife and ecological preservation.

This consortium of experts underscores Bhutan’s commitment to creating a world-class urban environment.

A Vision for Holistic Growth
At its core, GMC represents Bhutan's dedication to "Building with Nature." The city’s design integrates seamlessly with its environment, promoting biodiversity and sustainability. Initiatives such as a Wellness and Performance Center for executives and athletes, advanced public healthcare, and international educational programs exemplify GMC’s holistic approach.

Key governance figures, including CEO Mun Leong Liew and Governor Dasho Dr. Lotay Tshering, are working to ensure the project reflects Bhutan’s values while attracting global investments.

Challenges and the Path Ahead
While GMC’s potential is immense, challenges remain. Navigating Bhutan’s strict capital controls and ensuring widespread participation in the project are critical. Experts have called for innovative marketing strategies to position GMC as a global hub for sustainable investment.

Prime Minister Dasho Tshering Tobgay recently emphasized foreign direct investment as a cornerstone of Bhutan’s development strategy. Sectors such as renewable energy, education, and tourism are poised to benefit directly from GMC’s growth.

A Catalyst for Bhutan’s Economic Future
Gelephu Mindfulness City is not merely a development project; it is a transformative national strategy aimed at securing Bhutan’s long-term prosperity. By blending innovation, sustainability, and mindfulness, GMC is set to redefine urban living and economic development—not just for Bhutan, but as a model for the world.

Strengthening Bhutan's Global Presence
The Bhutan Innovation Forum (BIF) played a pivotal role in positioning Bhutan as a thought leader in sustainable and mindful urban development. The forum brought together philosophers, scientists, artists, and business leaders to discuss the transformative potential of GMC and foster collaborations that extend beyond Bhutan’s borders.

International interest in GMC is steadily growing, with investors and global professionals expressing enthusiasm for Bhutan’s unique model. DHI is leveraging this momentum by maintaining continuous dialogue with stakeholders, emphasizing the need for collective action in tackling shared challenges.

Building Infrastructure for a Connected Future
A cornerstone of GMC's development is the establishment of world-class infrastructure. The extension of Gelephu’s international airport, managed in collaboration with Changi Airport Group, is a significant step toward connecting Bhutan with regional and international markets. Changi's CEO, Eugene Gan, emphasized that GMC's location provides access to a potential market of over five million people in neighboring Indian states, making it a key regional hub for both Origin-Destination (OD) and transfer air traffic.

The airport's integration with GMC’s mindfulness values distinguishes it as potentially the world’s first airport designed with a focus on sustainability and mindfulness. Advanced rail and digital connectivity will complement this effort, ensuring seamless movement of people and goods while minimizing environmental impact.

Innovation in Governance and Sustainability
GMC’s governance model is as innovative as its urban planning. By establishing independent executive, legislative, and judicial systems, GMC ensures an environment of trust and transparency for businesses and residents alike. The governance framework also includes incentives for mindful and sustainable practices, aligning corporate goals with community values.

The city’s infrastructure will run entirely on renewable energy, reinforcing Bhutan’s leadership in green initiatives. GMC’s energy cluster, supported by a partnership between Reliance and Druk Holding and Investments (DHI), will focus on green energy production, including hydropower and solar energy projects.

Empowering Citizens Through Economic Opportunities
A primary goal of GMC is to address Bhutan's pressing challenges, such as youth unemployment and rural-urban migration. By creating jobs in sectors like green energy, digital technology, education, and logistics, GMC offers opportunities for Bhutanese citizens to thrive in a rapidly evolving economy.

The Education and Knowledge cluster aims to transform GMC into a “City of Mindful Learning”, featuring partnerships with international schools and institutions to upskill the Bhutanese workforce. These initiatives align with Bhutan’s broader vision of preparing its citizens for global leadership roles while preserving cultural heritage.

Aligning Bhutan’s Economic Vision with GMC
Bhutan’s national economic strategy, outlined in the 13th Five Year Plan, directly supports GMC’s objectives. With a projected budget of Nu. 512 billion, the plan allocates significant resources to infrastructure, ICT development, and human resource enhancement. Hydropower, a cornerstone of Bhutan’s economy, is set to expand, with planned capacity increases to 5,500 MW, providing a reliable foundation for GMC’s energy needs.

Foreign Direct Investment (FDI) policies are being streamlined to attract ethical and sustainable investors. Bhutan’s unique offerings, including renewable energy resources, pristine ecosystems, and its emerging position as a sustainable investment hub, make GMC an attractive destination for global capital.

A Model for Future Cities
The success of Gelephu Mindfulness City has the potential to inspire similar projects worldwide. GMC’s emphasis on integrating mindfulness into urban design, coupled with its commitment to sustainability, positions it as a pioneering model for the future of urban living.

Global experts involved in GMC’s planning, such as Bjarke Ingels and the Magnolia Quality Development Corporation Limited (MQDC), see this project as a benchmark for combining economic growth with environmental stewardship. The city’s holistic approach serves as a blueprint for countries grappling with balancing development and sustainability.

GMC: Bhutan’s Bridge to the World
Gelephu Mindfulness City is more than an economic hub; it is Bhutan’s bridge to the global stage. By fostering international collaborations, attracting sustainable investments, and empowering its citizens, GMC represents the next chapter in Bhutan’s journey as a leader in mindful and sustainable development.

With its bold vision, strategic planning, and alignment with Bhutanese values, GMC promises not just to reshape Bhutan’s future but to serve as a beacon of hope for the world. As the project progresses, the lessons learned from Gelephu Mindfulness City could redefine how humanity envisions the cities of tomorrow.

A Beacon for Ethical Investments
One of the defining aspects of Gelephu Mindfulness City (GMC) is its approach to ethical investment. By aligning with Bhutan’s cultural and spiritual values, GMC is setting new standards for responsible financial growth. The introduction of TER, a blockchain-based digital currency backed by physical gold, exemplifies this commitment. Designed to ensure monetary stability and transparency, TER will complement Bhutan’s official currency while promoting seamless digital transactions.

John Pfeffer, Founder of Pfeffer Capital, highlighted GMC’s appeal to global investors seeking opportunities in renewable energy and sustainable infrastructure. He noted Bhutan’s strategic position in South Asia and its abundant hydropower resources as significant advantages. Furthermore, GMC’s emphasis on mindful capital, which prioritizes the well-being of entrepreneurs and communities over mere financial returns, is attracting a new wave of socially conscious investors.

The financial ecosystem of GMC, modeled on frameworks from Singapore and Abu Dhabi, ensures robust governance with stringent Know Your Customer (KYC) and anti-money laundering protocols. By creating an environment of trust, GMC seeks to attract global businesses that align with its principles of sustainability and ethical growth.

Private Sector Participation: A Pillar of Success
Bhutan’s private sector is playing a pivotal role in GMC’s development. The construction phase alone is expected to generate thousands of jobs, with an emphasis on hiring Bhutanese professionals and expatriates. Beyond construction, sectors like education, healthcare, and digital technology will provide long-term employment opportunities.

Local businesses are being encouraged to collaborate with global partners, enabling knowledge transfer and capacity building. This collaboration ensures that Bhutanese enterprises are equipped to compete in international markets while retaining their cultural integrity.

Community-Centered Development
At its heart, GMC is a project for the people of Bhutan. Open to all Bhutanese citizens, the city also welcomes global professionals who align with its vision. The development process prioritizes community input, ensuring that the city evolves in harmony with the needs of its residents.

Initiatives like the GMC Nation Building Bond empower citizens to directly contribute to the city’s success. By allowing investments as low as $100, Bhutanese individuals and families can take pride in shaping the future of their country.

Educational programs within GMC will focus on mindfulness and sustainability, reflecting Bhutan’s commitment to nurturing future leaders who value both progress and harmony. These programs aim to create a workforce capable of driving Bhutan’s transformation while remaining rooted in its traditions.

Showcasing Bhutan’s Potential
The Bhutan Innovation Forum (BIF) not only showcased the ambitious vision of GMC but also reinforced Bhutan’s position as a leader in global thought and sustainable development. The event brought together a diverse group of experts, creating a fertile ground for collaboration and innovation.

Key initiatives emerging from the forum include:

• Continuous Dialogue: Ongoing discussions among stakeholders to address challenges and refine strategies.
• Sustainable Development Projects: Prioritizing initiatives that align with Bhutan’s values and GMC’s objectives.
• International Outreach: Strengthening global partnerships to attract investments and expertise.

GMC: A Catalyst for Regional and Global Impact
The impact of Gelephu Mindfulness City extends beyond Bhutan’s borders. Strategically located near India’s northeastern states, GMC is poised to become a gateway for trade and investment in South Asia. The city’s focus on renewable energy, ethical investments, and innovation makes it an attractive destination for international businesses.

Bhutan’s collaborative efforts with organizations like the Asian Development Bank, the World Bank, and the Government of India underscore its commitment to regional growth. These partnerships not only benefit Bhutan but also contribute to the economic development of the entire region.

A Living Model of Gross National Happiness
Gelephu Mindfulness City is a living embodiment of Bhutan’s philosophy of Gross National Happiness (GNH). By integrating economic progress with environmental stewardship, cultural preservation, and spiritual well-being, GMC is redefining what it means to build a city for the future.

As construction begins and the vision of GMC unfolds, the world will watch closely. This ambitious project has the potential to influence global urban planning, offering a model for cities that prioritize people and the planet over profit.

For Bhutan, GMC is more than a city—it is a bold declaration of its values and aspirations, a testament to its resilience, and a beacon of hope for sustainable development in the 21st century.