Tajikistan's banking sector records increase in foreign investments

Tajikistan Materials 3 August 2023 05:24 (UTC +04:00)
Umar Abakirov
Umar Abakirov
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DUSHANBE, Tajikistan, August 3. Tajikistan's banking system attracted $611 million in foreign investments from January through June 2023, Assistant to the President of Tajikistan on Economic Affairs Nematullo Hikmatullozoda said, during a meeting on banking system results for the first half of 2023, Trend reports.

As Hikmatullozoda pointed out, the amount of investments increased by 20 percent compared to the same period of the previous year.

"Despite this positive growth, there is still a need for further improvements in the country's banking system to attract more investments," he said.

Hikmatullozoda emphasized the importance of fostering mutually beneficial collaborations with financial institutions and foreign investors to attract more foreign investments, particularly direct investments into Tajikistan's banking sector.

Additionally, he said that measures should be taken to increase the availability of credits in various economic sectors, with a special focus on supporting manufacturing entrepreneurship, as well as reducing interest rates on loans.

Back in May of this year, President of Tajikistan Emomali Rahmon said that more than 170 investment projects, whose total value exceeds $8 billion, are being implemented in the country at the moment.

He especially emphasized the significance of the investments from China, and said that over the past 10 years, Chinese investors have contributed $2.6 billion to the Tajik economy, of which more than 57 percent are direct investments.

According to him, the government of Tajikistan supports investors, there are more than 240 types of guarantees and benefits for them, including more than 100 tax and customs benefits and exemptions.