29 February 2016

February 26, 2016, First Deputy Prime Minister of the Republic of Tajikistan, esteemed Davlatali Said met with the entrepreneurs of Sughd region in Khujand.

The First Deputy Prime Minister spoke about the policy of Founder of Peace and National Unity, Leader of Nation, the President of the Republic of Tajikistan, His Excellency Emomali Rahmon and the Government of the Republic of Tajikistan, to support the private sector, particularly by fostering a more favorable business environment, ensuring effective implementation of state programs of entrepreneurship support, and extending the public-private dialogue across the country, among other efforts.

The First Deputy Prime Minister also summarized the state of enterpreneurship and investment indicators in Sughd Region. There were 275,653 businesses registered in Tajikistan as of December 31, 2015, which showed 32,380 greater number of business compared to 2014, or a 11.7% annual increase. From this total number, 97,621 business entities were registered in Sughd or a 22.2% increase from 2014.

To support the entrepreneurs, Tajikistan’s banks and credit organizations have extended to businesses a total of 11,216 million TJS in loans, which is 12.3% more compared to the amount loaned in 2014. From that total amount, 2,721.56 million TJS were loaned in Sughd region.

From the date of its inception, the Entrepreneurship Support Fund has financed 17 businesses in Sughd, extending in total 13.2 million TJS in subsidized loans.

To attract foreign investments and implement state investment projects, a number of significant projects have been completed since Tajikistan gained independence. Currently, 19 state-funded projects are implementing in Sughd, worth 159.14 million USD.

In 2015, the total foreign investment made in Tajikistan to reached 977.8 million USD, of which 470.9 million USD was direct and 506.9 million USD other types of investments. Foreign direct investment increased by 93.5 million USD compared to the amount invested in 2014. Sughd region received 147.9 million USD in foreign investments.

First Deputy Prime Minister, esteemed Davlatali Said noted in his speech that representatives from the private sector, national entrepreneurs, and especially the entrepreneurs of Sughd region should take advantage of the support of the Leader of Nation, the President of the Republic of Tajikistan, His Excellency Emomali Rahmon and the Government and contribute to the development of domestic production of import-substituting and export-oriented products, and supply domestic market with competitive products.

During the meeting, the entrepreneurs shared their views, which offered an opportunity for the First Deputy Prime Minister to answer private sector’s questions and concerns.

The meeting was attended by Chairman of State Committee on Investment and State Property Management, esteemed Qodiri Qosim; the head of the Tax Committee, esteemed Nusratullo Davlatzoda. Also attending were the head of the Consultative Council on the Improvement of Investment Climate, the representatives of the State Committee of Land Management and Geodesy, Tojikstandart Agency, the Customs Service and the representatives of other ministries and agencies.

In general, entrepreneurs raised variety of issued related to business environment and regulatory requirements, including further simplification of import-export and transit procedures, the simplification of the tax administration, and registering and closing businesses. Other questions and issues related to access to resources, namely greater access to finance, attracting foreign investors, simplifying access to land for industrial purposes, opportunities for export of locally produced good, and access to reliable electricity supply. Other businesses mentioned the need to put in place international quality standards and other topical issues faced today by the private sector.

Organizing similar meetings with entrepreneurs is also planned in Vahdat, covering participants from towns of Vahdat, Roghun and districts of Varzob and Faizobod and in the Rasht Valley, covering districts Nurobod, Rasht, Tojikobod, Jirgatol and Tavildara. Further meetings are also planned in Badakhshon Autonomous Region.

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