The 14-th Session of the Consultative Council on Improvement of Investment Climate under the President of the Republic of Tajikistan has been held on November 17, 2014 under the chairmanship of the President of the country, Chairman of the Consultative Council on Improvement of Investment Climate, His Excellency Emomali Rahmon.

Prior to the beginning of the Session, the President of the country, the Chairman of the Consultative Council, His Excellency Emomali Rahmon has welcomed the President of the European Bank for Reconstruction and Development, Sir Suma Chakrabarti, who has been presented in the Session, as well as has highly appreciated the share of the Bank in implementation of economic reforms and infrastructure projects.

Then the floor has been given to Sir Suma Chakrabarti – the President of the European Bank for Reconstruction and Development, who has spoken on the future role of the Bank in development of the economy and improvement of investment climate in Tajikistan, including purposeful realization of a number of reforms in the energy, finance, reconstruction of roads, development of trade and business support.

According to the first issue of the Session’s agenda, Mr. Qodiri Qosim, the Council’s Executive Secretary and Chairman of the State Committee on Investment and State Property Management of the Republic of Tajikistan has made a report on the results of monitoring of implementation of decisions Consultative Council’s sessions. In particular, it has been noted that the decisions of the thirteenth session of the Investment Council focused on improvement of investment and business climate in the insurance sector, arrangement and conduction of the Meeting of the President of the country with entrepreneurs and investors, completion of ratification process of Hague Convention by the Republic of Tajikistan, establishment of a sovereign credit rating of Tajikistan in this year as well as development of industry and national production.

Particularly draft Action Plan of the Government of the Republic of Tajikistan on improvement of investment and business climate in the insurance sector has been improved and submitted to the Government of the country as well as draft Law of the Republic of Tajikistan “On Insurance Activity” in a new edition is being developed, that would give significant impetus to the development of the insurance sector in the country.

Regarding the ratification of Hague Convention (the Apostille Convention on abolition of official documents’ legalization dated 1961) by the Republic of Tajikistan Majlisi Namoyandagoni Majlisi Oli (Parliament) of the Republic of Tajikistan has ratified this Convention on October 29, this year, that would encourage more attraction of foreign investments to the economy of the country.

For the purpose of establishment of sovereign credit rating of Tajikistan cooperation has been arranged by the National Bank of Tajikistan with prestigious world rating agencies Standard & Poor’s and Moody’s, in result of which draft conclusion and further outcome of work will be submitted in concern with assigning sovereign credit rating to Tajikistan.

Relating monitoring of decisions implementation of the Council also representative from private sector in the Consultative Council, Head of Tajikistan Agribusiness Association -Mr. Shorahmatov Shorauf and a member of the Council, Head of Representation Office of International Financial Corporation in Tajikistan - Mr. Christopher Miller have delivered their speeches.

Regarding the second issue of the Session a report of the Chairman of the regional Consultative Council on improvement of investment and business climate in Khatlon Province - Mr. Davlatsho Gulmahmadzoda on activity of the regional Consultative Council on improvement of investment and business climate in Khatlon Province has been heard.

In concern with the third issue of Session Chairman of Committee on Architecture and Construction under the Government of the Republic of Tajikistan, Mr. Abduvali Komilzoda has made a report on the process of implementation of the Program on Support of Construction Companies on Improvement of Investment and Business Climate in Construction Sector for 2012-2014.

The fourth issue of the Session was the issue of development of secondary market for securities and stock exchange in Tajikistan. The Chairman of National Bank of Tajikistan, Mr. Abdujabbor Shirinov has delivered speech and presented the results of the Working Group on development of secondary market for securities and stock exchange in Tajikistan. Particularly the report of the Working Group with comprehensive recommendations and also draft Action Plan of the Government of the Republic of Tajikistan on development of secondary market for securities and stock exchange have been submitted in the Session.

Also in regard with this issue the Chairman of Tajikistan Bank Association, Mr. Izatullo Lalbekov had a speech and emphasized the share of private sector in development of secondary market for securities and stock exchange.

The last issue considered at today's Session of the Council was proposing an issue of Draft Agenda for the next Session of the Consultative Council. Mr. Qodiri Qosim, the Council’s Executive Secretary proposed for consideration at subsequent Session of the Consultative Council an issue on improvement of the investment climate in agriculture and development of agribusiness in Tajikistan, which has been supported by all members of the Council.

At the completion of the Session, the President of the Republic of Tajikistan has delivered final speech and gave relevant instructions to the responsible ministries and agencies on issues considered at the Session.