Punakha—In a historic step to position Bhutan as a global leader in mindfulness, sustainability, and innovation, the Gelephu Mindfulness City Authority (GMCA) yesterday unveiled the “GMC Law No. 1 of 2024”, also known as the Application of Laws Act 2024, at the sacred Machhen Lhakhang of Punakha Dzong.

His Majesty the King, Executive Chairperson of the Gelephu Mindfulness City Board, granted the “GMC Law No. 1 of 2024”.

This transformative legislation, sanctioned by the royal assent of His Majesty the King, represents a pivotal milestone in establishing the Gelephu Mindfulness City (GMC) as a global hub for holistic development.

The Prime Minister, the Chief Justice, the Chairperson of the Anti-Corruption Commission, and the Auditor General, alongside the GMC Governor Dasho, GMC Board Member Dasho Arun Kapur, GIDC CEO Ujwal Dahal, and other officials from the GMC attended the ceremony.

The “GMC Law No. 1 of 2024” provides a governance framework for the Gelephu Mindfulness City Special Administrative Region (GMC SAR), reinforcing its autonomy and capacity to attract global investment and drive economic growth.

This legislation follows the granting of the GMC Royal Charter on 10 February 2024, which laid the foundation for the SAR’s innovative and sustainable development.

A standout feature of the GMC Law is the integration of Singapore’s common law and Abu Dhabi Global Market (ADGM) regulations. This unique combination governs key areas such as company incorporation, employment, taxation, and financial services, ensuring streamlined legal processes for businesses and individuals.

By adopting globally recognised legal frameworks, GMC offers a stable and efficient regulatory environment, making it an attractive destination for international investors and entrepreneurs.

At the heart of GMC’s mission is the alignment of modern innovation with Bhutan’s rich cultural values and abundant green energy.

The city aims to create a model urban environment that exemplifies mindfulness, sustainability, and technological advancement.

Leveraging the Kingdom’s renewable energy resources, GMC is poised to become a beacon for eco-conscious economic development, fostering industries that align with its holistic ethos.

The enactment of GMC Law No. 1 marks the beginning of a phased approach to development. In Phase 1, the focus is on establishing business regulations and legal processes to ensure safe, compliant operations. The framework also includes provisions for civil and criminal laws to promote law-abiding behaviour among residents and businesses.

As the city expands, Phase 2 will introduce a tailored legal code, incorporating arbitration and specialised legal areas. These advancements will be developed in close collaboration with the business community, ensuring the laws meet the region’s evolving needs while maintaining a high standard of governance.

The GMC SAR is a pioneering initiative in urban development, blending traditional Bhutanese values with cutting-edge design and technology.

By integrating a globally accepted legal framework and sustainable practices, GMC sets the stage for an economic and cultural renaissance in the southern plains of Bhutan.

This visionary project is not just about economic growth but also about creating an environment where mindfulness and sustainability become central to urban life.

With its innovative approach, GMC is poised to inspire similar initiatives worldwide, solidifying Bhutan’s reputation as a leader in holistic development.

(Source: Chencho Dema, Kuensel, December 27, 2024)