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The Tax Service of Tajikistan has found that firms and enterprises have debts to the state amounting to over 900 million somoni ($82.5 million). But this notwithstanding, the government has written-off more than 202 million somoni of debts and fines owed by the company, Tajiktransgaz, cancelling debts of 144 million somoni, and fines of 58 million. Tajiktransgaz is currently an open joint stock company, which was founded in 1959 for the mass supply of liquefied natural gas to the population of Tajikistan. According to the company, Tajiktransgaz does not have the resources to pay.
The Eurasian Development Bank (EDB) has published its macroeconomic outlook for the Bank’s six member states — Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. Bank analysts anticipate that GDP across the region’s countries will be close to a balanced growth path. Projections indicate a GDP growth in 2024 of 5.7% in Armenia, 2% in Belarus, 5% in Kazakhstan, 4.5% in Kyrgyzstan, 1.5% in Russia, and 7.3% in Tajikistan. According to EDB analysts, following Kazakhstan’s economic growth of 4.8% in 2023, an acceleration in GDP growth is anticipated for 2024, further bolstered by high investment activity. The expected decrease in interest rates is poised to provide an additional impetus. In the medium term, structural transformations are set to improve the quality of economic growth by expanding opportunities in manufacturing and service industries. Economic diversification creates prerequisites for an anticipated acceleration in 2025 and 2026, positioning Kazakhstan as a leader among Eurasian Economic Union member states in terms of growth rates. Strong domestic demand supported high economic activity in Kyrgyzstan and Tajikistan in 2023. EDB analysts project a slight deceleration in these countries in 2024, albeit with GDP growth rates still noticeably higher than the global average.
A new agreement has been reached between Tajikistan and China, which will bring the republic closer to having high-speed internet throughout the country after Tajikistan's Communications Service and a subsidiary of HUAWEI signed a memorandum of cooperation in the field of digital technologies. This will lead to the supply and installation of 7,600 base stations with GSM/UMS/LTD/5G as standard, it was reported. “This will contribute to the development of mobile communications and fixed broadband networks in Tajikistan,” the regulator said in a statement. “At the same time, given the rapid development of information technology, this will allow operators to have instant access to the latest equipment.” The agreement also provides for cooperation and the involvement of personnel in the field of communications, mobile operators and Huawei Technology Tajikistan specialists in the development of a single modernization project. The agreement was signed by the Head of the Communications Service, Bek Saburov, and the CEO of Huawei's subsidiary, Ma Chan, as part of the State Program for the Improvement and Development of Mobile Communications in 2024-2028. Earlier, the Communications Service made the unexpected decision to allow two private companies to supply internet to the country through international channels. According to a Sputnik Tajikistan source, the companies are TT Mobile (MegaFon), and Indigo Tajikistan (Tcell).
As outlined in a press release on the IFC website, a new online e-system for businesses in Tajikistan developed with IFC support is being launched to help the government increase transparency, reduce its administrative burden, and improve the country's investment climate, the IFC (a member of the World Bank Group) said on December 11th. The IFC has been working with Tajikistan's State Committee on Investment and State Property Management for almost two years to help develop the new e-Services for Business System with support from the government of Switzerland. The new portal consists of: an e-Registry database comprising all existing licenses and permission documents with details of their issuance; an e-Inspection system to enable the planning and conduction of inspections and report results online; and an e-Permit platform to apply for licenses and permission documents. The new online system will help increase the transparency of activities and services provided by state authorities and minimize costs for the private sector to access information, apply for licenses and permits, provide feedback, and report on problems in the work of inspection and licensing bodies. "Simplifying administrative procedures and reducing the state impact on business activities by - among other things - reducing the number of inspections is essential to improve business confidence and attract investment," said Khurshedai Qodir, Deputy Chairperson of the State Committee on Investment and State Property Management. The portal will also enable the committee to have valuable real-time data on the number of inspections conducted and licenses and permits requested and issued. It will also enable monitoring of the extent to which state bodies comply with legal requirements in carrying out their duties. "Developing Tajikistan's private sector without improving the conditions it operates in is practically impossible," said Farukh Sultonov, IFC Country Officer in Tajikistan. "Accessible administrative systems are key to help public authorities cut bureaucracy, reduce costs and time for the private sector, and strengthen the country's investment climate."
Trade turnover between Tajikistan and Azerbaijan increased by more than 26% in the first ten months of this year, amounted to more than $ 5 million, the customs authorities of Azerbaijan reported, adding that $4.6 million of this is accounted for by exports to Tajikistan. It was recently reported that Tajikistan and Azerbaijan have signed a number of cooperation agreements, particularly in investments aimed at improving the industrial sector. Among the key areas are projects for the launch of an oil refinery in the Dangara SEZ, the construction of a hydroelectric power plant in Tajikistan, and an increase in TALCO's production capacity. In addition, Baku is promoting an initiative to provide Dushanbe with discounts on rail transport.
EBRD Pledges New Resources for Green Investment in Tajikistan The European Bank for Reconstruction and Development (EBRD) is committing fresh funds to facilitating better access to green technologies and climate adaptation for businesses and households in Tajikistan, a news release on the bank's website states. The US$ 50 million Tajikistan Green Economy Financing Facility II (GEFF Tajikistan II), launched by the EBRD and the Green Climate Fund (GCF), will promote higher standards of energy and resource efficiency and support the country’s transition to a greener economy. GEFF Tajikistan II will encourage residential and commercial borrowers to invest in green and innovative solutions (available through the programme’s website) that promote the efficient use of water and the sustainable management of land. It will pay special attention to the country’s agribusiness sector, which employs almost half of Tajikistan’s workforce and is responsible for more than 22.5 per cent of gross domestic product. Up to US$ 13 million, including US$ 11 million under GEFF Tajikistan II, will be earmarked for three domestic financial institutions: Bank Arvand (US$ 4 million), microlenders Humo (US$ 5 million) and Imon International (US$ 4 million). With a joint base of more than 540,000 clients and operational even in remote mountainous parts of the country, the three institutions are well placed to bring much-needed green finance to even the smallest borrowers across Tajikistan. The new facility builds on the US$ 25 million Green Economy Financing Facility I (GEFF Tajikistan I), which was supported by the European Union and operational from 2019 to 2023. GEFF Tajikistan I supported more than 4,600 sub-projects. Each year, these generated over 24,000 MWh of energy savings, reduced CO2 emissions by 5,195 tonnes and cut water consumption by 5.2 million m3. GEFF Tajikistan II is supported by donor funding from South Korea, Austria and the GCF.
