There are two sectors in Tajikistan that could buffer the negative COVID-19 impacts during the short term, says WB country director
2 weeks ago Web Desk 0
World Bank Country Manager for Tajikistan Jan-Peter Olters noted this in his statement delivered at the delivered at the Second Intersession Meeting of the Consultative Council on Improvement of Investment Climate under the President of Tajikistan on October 14.
He said that the COVID-19 pandemic was confronting every country worldwide with new sets of socioeconomic development challenges.
“Against the backdrop of Tajikistan’s specific characteristics, there are two sectors in particular that would buffer the negative COVID-19 impacts during the short term, and provide a strong foundation for a dynamic, sustainable, and inclusive recovery over the medium term, viz., (i) the development of rural economies (by fostering the entire value chain from agriculture to food processing); and (ii) the implementation of policies aimed at enabling the economy’s digital transformation,” Mr. Olters said.
To set in motion these crisis-response developments, Tajikistan has maintained a general focus on preparing reforms with which to remove principal obstacles to private-sector development, he noted.
According to him, the ongoing tax reform is the single-most important and the potentially most transformative effort in this direction.
“And if these are complemented by sector-specific upgrades, including on telecommunications, it is possible to set in motion dynamic rates of sectoral innovations, growth, and employment generation,” World Bank country director added.
Source: Asia Plus