Tajikistan-Qatar: Beyond business

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DUSHANBE, 09.02.2017. /NIAT Khovar/. As we have reported earlier, the Founder of Peace and National Unity � Leader of the Nation, President of the Republic of Tajikistan His Excellency Emomali Rahmon on February 5, 2017, within the framework of his official visit to Doha, the State of Qatar, held a meeting with Qatari financial and investment circles. The Leader of the Nation Emomali Rahmon, having addressed the meeting, noted that this meeting provides good opportunity for the better introduction of advantageous ways and directions of bilateral cooperation, including attraction of foreign investment to the economy of Tajikistan.

According to the press centre of the National Bank of Tajikistan /NBT/, the management of this bank, in particular Jamshed Nurmahmadzoda, Chairman of the NBT and Jamoliddin Nuraliev, First Deputy Chairman of the NBT have also participated in this meeting along with other members of the delegation of the Republic of Tajikistan.

Mr. Jamoliddin Nuraliev, First Deputy Chairman of the NBT has addressed the attendees of the meeting, Qatari financial and investment circles, with detailed presentation Tajikistan � Qatar: Beyond business on wide investment opportunities of Tajikistan in various economic sectors such as energy, hydropower, oil and gas, manufacturing, mining, agriculture and processing, aluminum, banking system and tourism.

In the beginning of his presentation J. Nuraleiv has briefly informed about macroeconomic situation and investment climate in the Republic of Tajikistan. It was noted that as of today there are majority of important economic projects and programs implementing in Tajikistan, which need attraction of more foreign investments and modern technologies.

During the presentation it was noted that there are favorable conditions for the attraction of foreign investments to Tajikistan, including availability of four Free Economic Zones located close to the borders, human resource potential and skilled labour, close cooperation with partners on export, including mining, cotton, gold, energy and on import side � oil products and non-precious metals.

The First Deputy Chairman of NBT J. Nuraliev has mentioned that the Republic of Tajikistan has favorable opportunities and conditions for the attraction of investments. In addition, implementation of some important reforms, safe security conditions for foreign investments attraction, protection of investors' rights, availability of different administrative and tax privileges for foreign investors were highlighted in his presentation. It was underlined that considering implementing reforms and improvement of investment climate, Tajikistan has jumped 12 ranks in 2010 and, impressive 6 ranks in 2011 and 36 ranks in 2015 in WB ranking, which is a very good indicator.

Moreover, implemented reforms in electronic filling of taxes, credit bureau, easier construction permit, further elimination of unnecessary rules promoting low level of crime and safe sense of personal security, stable economic and political situation in the country and high speed of poverty reduction issues were delivered to the attention of attendees.

During the presentation, it was underlined that despite turbulent decade for the global economy, Tajikistan maintained a steady and resilient positive economic growth. Apart from aforementioned, the profit repatriation of investors, including Diagram of increasing profit level of foreign investors for the last 6 years, well connection to global airlines network, further extension of airlines for connection to the country, similar culture and values, religion, holidays and stories were underlined in his presentation.

First Deputy Chairman of NBT J. Nuraliev in his presentation has attracted the attention of attendees to the attraction of investments to the Republic of Tajikistan, mainly to hydropower, financial, mining, tourism and agriculture sectors. It was noted that there are wide opportunities in hydropower sector and already 8 specific projects are being implemented in this field and joining of attended investors to these projects would be welcomed. Mr. J. Nuraliev also has noted favorable conditions for investments to banking system, low deposit investment risk and good opportunity for receiving incomes from it, favorable conditions for capitalization of banks by foreign investors, development of Islamic banking laws and adoption of legislation. It was also underlined about availability of opportunities for increase of foreign reserves for account of investments.

The implementation of different projects in hydropower, light and foodstuffs industry, construction of mining plants, construction materials production, agricultural products processing, creation of tourism, including eco-tourism were assessed as priority and important sectors for mutually beneficial cooperation of financial and investment circles of Tajikistan and Qatar.

In the final part of the presentation it was noted about Investment platform and Investors Protection by law on investments and foreign investment. It was underlined that the Government of the Republic of Tajikistan has granted the same rights and opportunities to domestic and foreign investors and does not interfere in their business. During the presentation it was noted that for the introduction of modern technologies, arrangement of production and export of different industries products and supporting and ensuring development of business and investment there are certain advantages and guarantees in the legislation of Tajikistan established, including more than 240 lists of priorities and preferences, it was also ensured conditions for open competition in the internal market of goods and services, capital and exchange markets.

In the conclusion of the meeting, J. Nuraliev has invited financial and business circles of Qatar to visit Tajikistan for arrangement of mutually beneficial cooperation in the above mentioned branches and to familiarize closely with existing opportunities and potential in the country on site.

It should be noted that during the official visit of the Founder of Peace and National Unity � Leader of the Nation, President of the Republic of Tajikistan His Excellency Emomali Rahmon to the State of Qatar (February 5-6, 2017) following the results of top level talks in the presence of the heads of the two states 8 new cooperation documents, including the Memorandum of Understanding between the National Bank of Tajikistan and Central Bank of Qatar on cooperation in financial activity and banking sector were signed.

Source: National information agency of Tajikistan