Overview of Business Environment

According to the World Bank’s “Doing Business – 2010” report, the Republic of Tajikistan has hit the top ten countries-reformers among the 183 countries around the globe. Such a progress has been achieved due to the political will of the President of Tajikistan, coherent work of the government structures, the dedicated activity of the State Committee on Investments and Property Management of the Republic of Tajikistan, in cooperation with international organizations and private sector. With the purpose of improving Tajikistan’s rating in the international “Doing Business” report and enhancing the country’s investment climate the Consultative Council on Improvement of Investment Climate under the President’s Office endorsed the Plan of Actions for improving Tajikistan’s international rating. Besides that, in June 2009 the Government of Tajikistan approved the programme titled “Improving entrepreneurial environment – 200

days of reforms”. The programme has a goal to reform the entrepreneurship policy and improve Tajikistan’s investment climate.
As a part of reforms implemented in Tajikistan, in 2009 the country introduced a business registration system, based upon a “one-stop-shop” principle. Entrepreneurs can nowregister their businesses bysubmitting anapplication to a single regulatory body. The procedure for closing a business in Tajikistan has also been simplifed through the legal reforms in the area of bankruptcy. The rights of minority shareholders have been strengthened by means of legal changes applied to shareholding companies, which is conducive to increasing the inflows of foreign as well as domestic portfolio investment in the economy. Licensing procedures in the civil construction sector have also been significantly improved, which gave momentum to the growth of wide-scale construction in the country and helped bringing the sector to a new qualitative level. Reforms in the area of investment and entrepreneurship are continuing; they are under close attention of the President and the Government of the Republic of Tajikistan and supported by the international financial institutions. The strategic goal of the Republic of Tajikistan is to develop a diversified, export-oriented economy based on development of traditional sectors and strengthening the share of private capital in the economy. Investments in Tajikistan’s economy are a guarantee of success, prosperity and access to new markets in Asia.