NGAWANG JAMPHEL | Thimphu
The Gelephu Mindfulness City (GMC) today announced the signing of a strategic Memorandum of Understanding (MoU) with The Fourth Sector Group (4SG), a global platform advancing economic systems that prioritise human and planetary wellbeing.
The partnership aims to support the development of a for-benefit economic ecosystem within the Gelephu Mindfulness City Special Administrative Region. It will integrate sustainability, innovation, and the principles of Gross National Happiness to position Bhutan as a premiere global hub for purpose-driven development.
For-benefit enterprises form a fourth sector of the economy, complementing the traditional private, public, and nonprofit sectors. They are mindful businesses whose core purpose is to deliver positive societal and environmental outcomes while generating benefits for all stakeholders.
At the signing, GMC Governor Dasho Dr Lotay Tshering said that the collaboration advances His Majesty’s vision of creating a new economic gateway for Bhutan that harmonises economic growth with cultural preservation and ecological stewardship.
“Our partnership with 4SG will help us shape the enabling conditions for for-benefit enterprises and purpose-led innovators and investors who want to contribute to mindful and long-term prosperity,” said the governor.
Heerad Sabeti, CEO of The Fourth Sector Group, said that 4SG is honoured to partner with what may be the world’s most visionary national effort to advance a new development paradigm.
He added, “Through the GMC, Bhutan is pioneering a future in which human wellbeing, ecological sustainability, and mindful innovation reinforce one another. We are honoured to work alongside Bhutanese institutions to support the emergence of a thriving for-benefit economy grounded in the country’s deep cultural and spiritual heritage.”
Under the MoU, 4SG will work closely with GMC to provide technical support and strategic guidance to design GMC’s for-benefit economic ecosystem, including the Pelsung pathways, to shape a coherent innovation ecosystem that engages all sectors and stakeholders.
It will also contribute expertise toward establishing an Innovation Fund and broader innovation finance mechanisms to grow mission-driven enterprises and solutions and deliver capacity-building, leadership development, and knowledge-sharing programmes for Bhutanese institutions, supporting the development of skills in mindful innovation, entrepreneurship, systems thinking, and for-benefit enterprise creation.
It will also support policy advisory work and regulatory innovation within the GMC Special Administrative Region to create an enabling environment for for-benefit enterprise and finance and establish a representative office in Bhutan/GMC staffed by national hires, to anchor long-term cooperation and coordinate visiting experts and global partners, serving as a hub for international engagement and resource to local institutions.
The signing of this MoU marks a significant milestone in shaping GMC’s emerging economic model and reinforces Bhutan’s commitment to building a global hub for sustainable, inclusive, and for-benefit innovation. The partnership is designed to evolve over time, with additional programmes and workstreams to be developed through mutual agreement as GMC advances.
