Tsewang Namgyal was born in Dharamsala, India, and graduated from Tibetan Children Village. He immigrated to the United States under the 1,000 resettlement project and then joined the U. S. Army Reserves. After his military training he attended Dickinson College and graduated in 1997. He worked for three years on Wall Street and went on to complete his MBA from Thunderbird, The Garvin School of International Management. Since completing his degree he has worked in different Investment Banks. Besides his regular work, he has traveled extensively throughout the three provinces of Tibet and provided consulting services to few Tibetan businesses.
What do you think is the main problem with exile Tibetan business community and where are they lacking behind?
My work with the Tibetan exile business community is very limited. I have been mainly focused on projects in Tibet. From my limited experience in business ventures in exile I believe the challenges are similar to those faced by Tibetans in Tibet. These are lack of capital, marketing and branding skills and finding good management. If we are able to overcome these challenges we will be able to unlock our true potential because we have some amazing products and services to sell around the world. One way to overcome these challenges is forming JVs with established well capitalized firms who can complement our strengths.
Apart from handicraft exports what kind of businesses could Tibetans from Nepal and India possibly do in America, Canada and Europe?
Tibetan medicinal and food products I believe have tremendous potential. There are certain regulatory challenges but these can be overcome. I also feel currently the world market is ready for a chain of Tibetan theme health resorts and retirement homes. I understand there are few hundred Tibetans in India studying nursing. If many of them can take a short course in Tibetan medicine and business I believe they can differentiate themselves from other graduates and tap the great opportunity in the booming health and spa sector here in the United States and other developed countries. Tibetans are famous for their compassion just as Gurkhas are famous for their fearlessness. Our compassion is a business advantage and we need to capitalize on it and teach others that compassion is good for business.
Can Tibetans in America & Europe join hands with Tibetans in Nepal & India in any form in trade?
Yes. The area that I believe Tibetans abroad are more competitive is in market and investor contacts. The Tibetans in exile are better in identifying locations to manufacture products, setting up production facility and operating them.
What role do you think Central Tibetan Administration should play in cultivating entrepreneurship culture in exile community?
CTA should continue it’s entrepreneurial training programs. In addition I believe it would be interesting if CTA can create a Tibet focused venture capital fund in partnership with an Indian socially oriented VC funds like Aavishkaar. The investment guideline of the fund can make it a requirement to invest in Tibetan firms that are potentially profitable, culturally sensitive and developmentally friendly. Capital is the blood for any business and without it a company cannot flourish.
Do you think that expertise acquired in trade and commerce while in exile would be of any help in future Tibet?
Definitely. In general any business expertise developed whether in India or any other foreign country is transferable to Tibet. Tibetans in exile especially those who speak Chinese and Hindi should consider working for large Indian firms doing business in China. Tibetans historically have a special relationship with both India and China. We Tibetans are in a unique position because we understand both regions probably more than any other foreigner. Indians setting up business in China will trust us more than hiring a local Chinese staff. Our business experience and relationship in India and China we can take back to Tibet. We need to quickly leverage on our uniqueness otherwise we will lose this differentiation due to the increasing interaction between the two communities.
What advises do you have for the Governing Body members of WSTCC in promoting the interests of its members and making contacts with other business associations worldwide?
Firstly I would like to express my admiration for the founding members of WSTCC for their initiative. I think the organization is much needed. Three suggestions are:
a. The body should be neutral and transparent. It is critical that members do not even perceive that the organization is biased towards any particular individual or organization. It is natural that some Tibetans will benefit more than others but the organization itself should be neutral like a teacher teachings her students.
b. The organization should be non political and focus on how it can make the members more competitive in business. Based on that goal, it can initiate services that fulfill that mission. Too many missions will lead to failure of all.
c. The organization should uphold the highest ethical standard and have zero tolerance for members who indulge in illegal business activities. It is important that the organization also differentiate between illegal and immoral. Morality should be left to the public to make the decision and not something by the WSTCC leaders because it can be biased.
What precedence do you think WSTCC should set or rather what could WSTCC possibly do to increase its members?
I believe adopting the suggestions that I mentioned and proper marketing would lead to increase in membership. It is important that also WSTCC remind its members that they need to be actively involved in the organization and think of contributing to the organization’s success.
Are there any viable projects that you think some of the heavyweights could start and make others party to it?
Few opportunities that I feel are interesting are:
• A B2B business portal focused on Tibetan products
• A chain of Tibetan theme health and spa resort
• A Tibetan Medicine production facility focused on few Tibetan products
Do you think it will be helpful if more and more established organisations offload certain percentage of their shares to their Tibetan brethrens?
I believe it would be better if Tibetan businesses reinvest in their community creating good jobs and providing internship programs for students. What we need is bigger and more sustainable Tibetan businesses that can compete with Chinese and Indian businesses. We need to think big. Even the largest Tibetan firms are small compared to our competitors. We need Tibetan industrialists like the Tatas and Rockerfellers. Having said that if an entrepreneur finds the right project to give a donation it would be worth it. However, I do not feel we need to make Tibetan entrepreneurs feel guilty if they do not make a donation as long as they are reinvesting in our community.
Do you see any prospects of starting a business venture in Tibet by an exile Tibetan?
Yes. I think Tibetans in India and those in Tibet should consider JV opportunities not only to tap opportunities in Tibet but also opportunities in China and India. Without a JV it will be very difficult for a Tibetan in exile to do business in Tibet. We do not need to restrict ourselves.
In your opinion, what would be the main obstacle for an exile Tibetan to start a business venture inside Tibet?
Language. Most of the business transaction is done in Chinese.
If an exile Tibetan wants to set up a business inside Tibet, what do you think would be his most important requirement?
Finding the right partner in Tibet who understands the rules, regulations and has the appropriate relationships.
You have been to Tibet and seen Tibetan businessmen inside Tibet. What kind of business are they generally in?
Many of the businesses owned by Tibetans are related to Tibetan medicine, real estate, hospitality, trading and handicraft.
What can Tibetans and supporters from outside do to help Tibet’s economy?
Tibet’s economy is changing quickly. With the completion of the railroad to Lhasa and opening of border trade in India, Tibet’s economic landscape will transform even further and it will be irreversible. Before I answer your question I would like to mention that we all need to look at Tibet as a great business opportunity and a unique opportunity for all of us to make history. We should not think of Tibet as some depressed place that needs charity. We Tibetans need to be proud of our land and the unique strengths of our people. I would like to share three suggestions of how we can be involved in this opportunity to participate in Tibet’s economy.
Tibetan diplomats need to educate their Indian and Chinese counterparts to understand that it is in India and China’s interest to economically empower Tibetans and create businesses that are environmentally friendly. If Tibetans are economically marginalized it would lead to political frustrations. Political instability and environmental bad projects in Tibet will hurt China and India. This is the truth and our neighbors should know about it.
Tibet support groups should encourage social oriented investments in Tibet. If friends of Tibet do not tap the opportunities in Tibet those that are not sensitive will exploit these opportunities. Unlike political breakthroughs that can happen overnight, economic breakthroughs take many, many years and we cannot wait until there is a political settlement before we get actively involved in Tibet’s economy.
Thirdly, I believe Tibet friendly high net worth investors and Tibetan entrepreneurs should work to create a socially oriented Tibet focused venture capital fund on the lines of enterprise funds that have been set up in East Europe. A good fund size is $100 million. The portfolio companies can become pillars of Tibet’s future economy. It is critical that the Tibet focused fund is managed by experienced business professionals who complements the Tibetan managements strengths. China is making much efforts to encourage investments in the Tibetan areas and a fund like this would be welcomed by the Chinese government. Interesting industries for the fund to focus on are hospitality, Tibetan Medicine, mining, agribusiness and mineral water. The investments can be exited through public offerings, management buyouts or selling to strategic investors. There is currently special preference in doing a public offering on firms based in Tibet. I am confident that with the right management the returns from the fund can be very attractive for all stakeholders.
I understand you were involved in creating a Tibet Investment Guideline for a non-profit development organization. Please can you tell us a little about it?
The purpose of the guideline was to provide a strategic framework that will assist investors in channeling financially viable, socially important and environmentally sensitive investments in the region. In the guideline I proposed that it would be important for investors to invest in opportunities where large percentage of management and labor are Tibetans. I believe this is more important than percentage of Tibetan ownership in the business. I also suggested that investors should push their local partners to the strictest labor rights of the PRC government and ILO standards. I also encouraged investments in export-oriented businesses while being mindful that the increase in export demand would not make local costs too high. My hope was that the guideline would be something that investors can use when making their investment decision. If large Tibetan firms follow good business practices due to assistance from foreign investors and Chinese government it will be a good model for other firms entering Tibet. We need to quickly create a high standard and I believe an influential venture capital fund that I proposed can play a critical role in this process.
Do you have any message to the Tibetan business and non-business community?
We need to be more confident.
