The Gelephu Mindfulness City (GMC) aims to create a supportive ecosystem for mindful business in collaboration with The Fourth Sector Group or 4SG. 4SG is a global multi-stakeholder platform dedicated to advancing economic systems that prioritise human and ecological well-being. This partnership will support mindful businesses that prioritise social and environmental well-being alongside economic sustainability.
For the collaboration, a three-year MoU was signed today between GMC and 4SG.
Under the agreement, 4SG will provide technical and strategic guidance to design a for-benefit economic ecosystem, such as the Pelsung pathways, to engage all sectors and stakeholders.
The group will contribute expertise to build an innovation fund and finance mechanisms while also supporting capacity-building and leadership development.
They will also assist with policy and regulatory innovation within the GMC Special Administrative Region.
Heerad Sabeti, CEO of The Fourth Sector Group (4SG) said, “GNH, over five decades ago, sort of pioneered the idea of a whole new model of development and new way to think about the objectives of development. GMC is now pioneering the manifestation of that. So taking it from philosophy all the way down to implementation on the ground and every aspect of how the system is structured, so that is a unique and significant opportunity, I think, not only for Bhutan’s transformation, but for the world to see that manifest at full scale within a country.”
He added that this partnership will build an environment for businesses that will function for the benefit rather than profit. However, it will also involve financial benefit.
The group will set up a representative office in Bhutan or GMC, staffed by local hires, to support long-term cooperation and coordinate visiting experts and global partners.
“We are contemplating launching additional initiatives that sort of fit within that framework. But it starts immediately. We are now actively looking to put a team together in Bhutan and set up offices in Thimphu and in Gelephu, and start mobilising international partnerships and put a team together outside.”
The signing of the agreement marks an important step in shaping GMC’s emerging economic model, reinforcing Bhutan’s commitment for a sustainable and inclusive development.