Ref: BHUTAN-FDI-2025-001
Verified: July 24, 2026
Financial Strategic Directive: Leveraging Existing Payment Systems Amid Bhutan's FDI Liberalization
Executive Liquidity Summary
"This directive advises financial stakeholders to prioritize proven payment systems over emerging RTP technologies, given user inertia and infrastructure reliability. Concurrently, it recommends capitalizing on Bhutan's FDI liberalization, targeting sectors with up to 70% foreign ownership, while strictly avoiding prohibited industries. The approach balances innovation with pragmatism, ensuring operational continuity and regulatory compliance."
The recent news highlights that the biggest rival to Real-Time Payments (RTP) is the existing payment system that already works, underscoring the importance of reliability and user adoption over novelty. In parallel, Bhutan's gradual liberalization of foreign direct investment (FDI), allowing up to 70% foreign ownership in manufacturing and services while maintaining negative and prohibited lists, presents a strategic opportunity. Financial institutions and investors should prioritize integrating with established payment infrastructures that have proven resilience and user trust, rather than chasing unproven RTP solutions. At the same time, they must navigate Bhutan's evolving regulatory landscape by focusing on sectors open to FDI, such as IT-enabled services, tourism, and renewable energy, while avoiding restricted areas like media and security. A dual strategy of leveraging robust existing payment rails and selectively entering Bhutan's liberalized sectors can optimize risk-adjusted returns.