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Participation in the XXIII meeting of the Advisory Council under the President of the Republic of Tajikistan on improving the investment climate

TAJIKISTAN, November 28 - On November 28, the XXIII meeting of the Advisory Council on improving the investment climate was held under the chairmanship of the Founder of Peace and National Unity - Leader of the Nation, President of the Republic of Tajikistan, Chairman of the Council, Honorable Emomali Rahmon, with the participation of Council members, representatives of relevant ministries and agencies, development partners, and domestic and foreign entrepreneurs and investors.

Issues related to the implementation of the decisions of the Advisory Council, the results of analyses and recommendations on the development of women's entrepreneurship, youth entrepreneurship and venture capital, as well as the draft agenda of future meetings of the Advisory Council were discussed at the meeting.

The Chairman of the Advisory Council, Honorable Emomali Rahmon, noted that the development of business activity and attracting capital through improving the business and investment environment is one of the important aspects of the Government of the Republic of Tajikistan's policy, and it is considered as one of the main factors for achieving the country's strategic goals.

It was mentioned that the Advisory Council under the President of the country on improving the investment climate was established as a platform of free dialogue between the state and the private sector, and during its activity comprehensive reforms have been implemented in all areas of the national economy in order to improve the investment and business environment and the development of the private sector.

The implementation of the decisions of the Council in the direction of the formation of the legal framework for digitalization of the economy in the country, the laws of the Republic of Tajikistan "On electronic documents and electronic signatures", "On electronic trade", "On the licensing system" and "On introducing changes and additions to the Law of the Republic of Tajikistan "On State Registration of Legal Entities and Individual Entrepreneurs" was adopted, and progress was made in the tax and customs systems, banking, statistics, trade and service industries, tourism, as well as in the areas of registration and other procedures for regulating business activities and non-cash settlements.

President of the country, along with the expansion of the digitization process of the economy, considered the issues of rapid industrialization, diversification and competitiveness of domestic products, strengthening of import-substituting and export-oriented production, the development of the "green economy", the use of innovative technologies and the development of human resources among the priority areas of national development, and deemed important an effective contribution of the private sector and attraction of domestic and foreign capital.

It was reported that the project of the Women's Entrepreneurship Development Program for the period up to 2027 was prepared and submitted to the Government of the country to create more favorable conditions for women's entrepreneurship.

During the consideration of the development of youth entrepreneurship, increasing the knowledge and skills of youth entrepreneurship, strengthening the normative legal basis of this process, facilitating the access of young people to financial resources, finding sources of financing and venture capital, and developing the Action Plan of the Government of the country in this direction was considered appropriate.

Also at the meeting, the Advisory Council decided to submit the issue of strengthening the process of digitization of government services to entrepreneurs and investors for consideration at future meetings of the Council.

During the discussion of the issues on the agenda of the meeting, the Chairman of the State Committee for Investment and State Property Management Sa'di Qodirzoda, the head of the Limited Liability Company "Asrori Sang" Daler Sharifi, the head of the Development Partners Coordination Council, the Permanent Representative of the World Bank in Tajikistan Ozan Sevimli, the head of the public organization "Shukrona" Navruzova Shukrona, the head of the Representation of the European Bank for Reconstruction and Development in the Republic of Tajikistan, Holger Wifel, the head of the State Enterprise "Sanoatsodirotbank" Hokimshoh Bobozoda, the head of the United Nations Development Program Representation in the Republic of Tajikistan, Lenny Montiel, and the Executive Director of the Private Sector Development Council of Tajikistan, Naima Nurmatova, spoke and expressed their opinions on the discussed issues.

The President of the Republic of Tajikistan, Chairman of the Advisory Council, Honorable Emomali Rahmon, concluded the meeting and gave instructions to the ministries, agencies and officials of the state bodies and gave relevant recommendations to the development partners.

In particular, for the improvement of the investment climate and timely implementation of the adopted legal acts, the ministries, agencies and local executive bodies of state power were instructed to cooperate with the Secretariat of the Advisory Council under the President of the Republic of Tajikistan on improving the investment climate to take practical measures to ensure the effective functioning of business and investment councils of the regions and cities and districts.

In connection with the effective regulation of permitting and licensing relations, the State Committee for Investment and State Property Management was instructed to ensure the implementation of the provisions of the documents adopted in this area together with the relevant ministries and agencies.

The development partners were advised to expand their activities in the implementation of projects aimed at digitalization of the national economy, creation of "green economy", innovation, rapid industrialization of the country, provision of productive employment and decent work.

In order to strengthen the digitization process, the ministries and agencies were obliged to take measures to fully organize the material and technical base, databases, prepare industry specialists, provide high-quality Internet and, in this context, provide modern state services in electronic form.

The head of state emphasized that more women are active in the fields of education and science, healthcare, culture and services of the country, and their number should increase in the field of entrepreneurship.

In this regard, the ministries of education and science, economic development and trade and the National Test Center were instructed to take mesures to attract more women in the fields of business management, marketing, management, finance, banking, investment project management and other areas of entrepreneurship activity.

The Ministry of Education and Science and institutions of higher vocational education of the country were obliged to pay special attention to the formation and development of entrepreneurial talent of students, especially female students, in educational programs, and to prepare graduates of this program as entrepreneurs who are ready to start business activities and establish various workshops and enterprises.

Development partners were advised to expand their activities in the areas of financial services, business consulting and entrepreneurship, training and sponsorship of small and medium enterprises and other services managed by women.

It was noted that in the cities and villages of the country there are human resources with experience and skills in professions and crafts, and their effective use can play an effective role in the development of various aspects of the life of society.

Therefore, the Ministry of Labor, Migration and Employment of the Population was instructed to, together with the relevant ministries and agencies and local executive bodies of state power, to implement the necessary mesures through stimulation steps to attract experienced people to teach various professions and crafts to women and young people, especially in the rural areas of the country. Also, in this direction, the cooperation of the development partners with the relevant state authorities was considered appropriate.

It was considered necessary that the National Bank, together with financial credit organizations, in cooperation with development partners, should strengthen the access of women and young entrepreneurs to low-cost loans.

In the republic, there are interesting natural places with culture and characteristics specific to each region, and tourist spots can be built with a small investment.

Therefore, the Ministries of Labor, Migration and Employment of the Population, Culture, Tourism Development Committee, local executive bodies of state power were instructed to organize towns and villages and craft and tourism corridors, to build sites taking into account the geographical position, culture and characteristics specific to the regions.

The head of state considered it necessary to implement additional measures for financial support of youth initiatives in the development and implementation of innovative projects, establishment of consultation of industry experts and exchange of experience and information in the field of business.

The executive bodies of state power of regions, cities and districts were obliged to implement effective mechanisms of cooperation with public associations of young entrepreneurs for the timely solution of social and economic issues of young entrepreneurs.

In this regard, it was considered necessary to create a regulatory legal basis for the development of venture investment, venture funds, alternative sources of financing, signing contracts for the implementation of start-up projects and aspects of progress in these areas.

It was mentioned that in our country the system of development and implementation of start-up projects, investments and venture funds is in the stage of formation.

In this regard, the ministries and agencies were tasked to prepare and submit the necessary amendments to the relevant legal documents.

Also, the State Committee for Investment and State Property Management was instructed to develop and implement appropriate business and investment development models based on the experience of developed countries.

The development partners were recommended to contribute more to the implementation of programs and investment projects with the participation of young people, especially in the direction of implementation of innovative projects, start-ups, information and communication technologies, e-commerce and technology parks.

Thus, the 23rd session of the Advisory Council under the President of the Republic of Tajikistan on improving the investment climate was concluded.