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Doing Business in Tajikistan

The development of the current legislation in Tajikistan expresses the state policy on support of all types of entrepreneurial activity including the private one (article 12 of the Constitution of RT). Therefore, frequent introduction of changes and additions into the Tax and Customs Codes is an indicator of strive to bringing the current legislation in accordance with the international standards on legal safeguards and protection of rights. Creation of the Consultative Council on improving the investment climate under the President Emomali Rakhmon (2008) and conducted actions are the evidence of strives to improve the investment climate.

Consequently favorable conditions for foreign investments, market structure support, and commercial finance, and banking system development are creating. The procedure for joint ventures registration and other ownership forms have been simplified.

According to new laws, enterprises with foreign investments are exempt from income taxes from 2 to 5 years depending on laid-down capital.

Tajikistan does not have any limitations on direct investments from abroad. It has full currency convertibility on current operations. Interest rates are fully liberalized. The course regime is floating and adjustable.

The priority sectors for investments have been identified. These are: hydro-power engineering, the extraction and processing of precious metals, stones and polymetalic ores, telecommunication and infrastructure development, cotton processing, and agriculture production.

Currently, companies from Canada, USA, Great Britain, Korea, Germany, Switzerland, Italy, Hungary and Russia are the biggest investors in the economy. Among them Tethys Petroleum (development and extraction of oil and natural gas), Nelson Gold Corporation (extraction of gold and silver deposits), Gulf International Minerals (extraction of gold deposits), Credit Swiss First Boston и Paul Reinhart (futures contracts for cotton), Adjind International (textile production).

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