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Polymetal International interested in investing in Tajikistan's natural resource extraction

Tajikistan Materials 16 January 2024 17:52 (UTC +04:00)
Polymetal International interested in investing in Tajikistan's natural resource extraction
Umar Abakirov
Umar Abakirov
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DUSHANBE, Tajikistan, January 16. GDP losses from the shadow economy amount to 135 trillion soums ($10.9 billion), while state budget losses amount to 30 trillion soums ($24.2 billion), Shavkat Mirziyoyev said, Trend reports.

He addressed a meeting focused on promoting macroeconomic stability and prosperity.

The president stated that the shadow economy is the most serious issue today. Tens of trillions of soums in services, manufacturing, and construction remain "in the shadows."

According to the head of state, 41 percent of construction enterprises reported only one worker. At the same time, they worked for 4 trillion soums ($323.9 million) last year. There is also one formally employed person on 5,000 fruit and vegetable farms totaling 25 hectares or more.

Despite the work of 14 agencies involved in combating shadow economies and economic crime, there is no unified system of work to coordinate their activities.

The President was instructed to give additional powers to the Department for Combating Economic Crimes under the General Prosecutor's Office.

According to Shavkat Mirziyoyev, the department's work has been limited in the past due to a lack of investigative powers and a large number of legal conflicts in the legislation.

The department will become an agency for in-depth analysis, operational and investigative work, searches, and investigations, and its head will simultaneously hold the position of deputy prosecutor general. In addition, the department will receive modern information systems and special tools.

The department will seek fundamental changes in five areas of the economy: construction, pharmaceuticals, alcohol and tobacco trafficking, illegal imports, encashment, and illegal exports of capital.

In addition, a separate department for combating the shadow economy will be established in the Prosecutor General's Office as well as its regional divisions.

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