About the author: Karimjon Ahmedov was born in 1959. He worked as a scientific officer of the Tajik State University, chief of the section of science under the Ministry of education, deputy minister of economics. At present he lives and works in Canada being a possessor of "Al Azhdad Consulting" company. The latter specializes in consulting, rendering services to a number of firms in Middle East, USA and CIS.

The other day the conference of investors terminated in Tajikistan being organized by the Islamic Bank for Development (IBD) and the government of the country. The event passed is significant not so much for economical as for political life of Tajikistan. The matter is that a certain time is required before real investments start to be infused into the economy of the country. However, the very fact of the event having taken place testifies to the intensions of the political leadership to ensure an openness of economy and to create real conditions for an increasing stream of foreign investments.
In Tajikistan about 40% of GDP are spent for outward debt redemption. It is just because of this that the government of Tajikistan can't do without the aid on the part of international financial-crediting institutions. Here we mean not only IBD, but World Bank (WB), International Monetary Fund (IMF), European Bank for Reconstruction and Development (EBRD) and other international organizations.
After the end of the civil war the country found itself in a very complicated position. On the one hand, it is a necessity of restoration of the destroyed economy and infrastructure, and respectively, consolidation of significant financial and logistic resources. On the other hand, non-availability of inward resources and inability of CIS partners, Russia, first of all, to render due economic support to Tajikistan. Under the conditions the president of the country Emomali Rahmonov had appealed to the world community for help and was heard. The weighty reasoning of the president on such important issues as political frameworks of Tajikistan, basic streamlines of economic reforms, poverty reduction program were brought to the notice of the world and the latter responded; the president expressed also the attitude of the country too the struggle with the world terrorism. The embassies of the leading world countries and authoritative international organizations were opened in the country. The president managed to ensure support for Tajikistan on the part of the democratic world community.
Today the work on image improvement and favorable investitive climate in the country acquires the greatest importance. First of all, it is necessary to demonstrate the readiness of Tajikistan for close cooperation in all the spheres of international level, and especially in economics, which needs acutely foreign and home investments. For investors, both foreign and home, it is very important to perceive a presence of a respective investitive environment which will afford to confidently deposit a capital into the economy of the country and protection of his rights for private property.
Who must solve these problems being mostly important for the life of the country? First of all, it should be in charge of the government, then come to embassies and commercial agencies of Tajikistan in foreign countries. This goal should be pursued by for a of investors, such as the passed conference under the aegis of IBD and the government of Tajikistan.
Working with my clients and partners I often collide with the representatives of big foreign firms and I can say for sure that before investments come business should be conscious of being developed, economically effective. I would like to deliver examples from my own practice. For example, "Al hashid" International company having its agencies in more than twenty countries of the world runs its business successfully having examined an investitive climate in this or that country through its juridical and consulting structures before investments enter. The project of this company was successfully implemented in Azerbaijan where with the help of one English company they had designed and built a complex of free trade in Baku international airport. One more project is a construction of the big oil refinery in Yemen.
Another example I would like to deliver is beset with the largest project of Sughd viloyat realized by "Nur" Assoc. Ltd., home investor supported by the American capital. Leaning on new technologies and the experience of developed countries, taking into account the problem of combustible lubricating stuffs being very expensive in Tajikistan they managed to carry into effect the transition of public and private transport in Sughd viloyat to diluted natural gas as engine fuel. Now this company gets down to the formation of its agencies abroad and other areas of the republic, it reinvests a part of its capitals into private objects of education and health service. I deem, these are fairly demonstrative examples how the process of investiture is preceded by analysis and appraisal of a concrete situation.
The leaders of this company managed to use to the utmost investitive potentialities in Tajikistan, Azerbaijan and Yemen.
Now I would like to return to the conference of investors: some of them being my friends and partners. In his introductory speech the president of the country Emomali Rahmonov delineated concretely and precisely the principal potentialities for the process of investiture in Tajikistan. Not only priority directions needing foreign investments were defined, but the adherence of Tajikistan to further realization of economic reforms and its integration into the world economic community were accentuated either. To our deep regret, after the president's speech the key governmental frameworks which are responsible for investitive programs couldn't have developed and delivered exhaustive information as to possibilities and guarantees foreign investors can enjoy in Tajikistan. Professional presentations of prospective projects, which might be financed by invited investors, were not prepared; exceptions being rare. A preliminary decision of the conference of investors on creating an investitive joint stock company in Tajikistan with the capital to the amount of 200 million USA dollars pursued the objective not only to concentrate certain financial resources, to draw in Tajik business in order it took part in projects and strategic solutions, but to conduct complementary explorations of investitive potentialities of the country directly through the company either. One of the participants of the conference, chairman of the company "M. Kharun Dahlavi Sans Trading Co" giving an appraisal to the forum told the following: "Your president is your luck, but your principal problem lies in the level of education of those people who work with him in the government".
One can treat these words differently but the question whether Tajikistan is ready for taking advantage of the potentialities in the aspect of attracting foreign investments remains open. The representatives of the government who are responsible for a comfortable investitive climate in the republic turned out to be unable of discerning the necessities of business support and ensuring reliable guarantees. Unfortunately, they up to now cling to the approaches practiced under the system of planning and market realties have nothing to do with it being no withholding factor at all. Naturally, the question arises: what should be undertaken in order the economic policy of the head of the state were carried into effect?
First of all, we need a radical reform of ministries and departments being in charge of economic transformations, thereof they must be decentralized and debureaucratized. The interference of state organs into private business should be maximally constrained. At the transitional stage separate functions of state control should be delegated to local governing bodies on the level of viloyats, if necessary. Local leaders being president's representatives understand deeper the problems and needs of business, so they may provide the state interests in this sphere more effectively. It is necessary to bring tax and customs codes, and also commercial legislation, in conformity with the requirements of the World Trade Organization (WTO) in the shortest time possible, one should accelerate an entrance of Tajikistan into this international structure. In order to prevent a commodity intervention of EurAsEC one must conduct complex negotiations within the frames of this organization and ensure a real consideration of the economic stake of Tajikistan. One should pay more serious attention to the measures aimed at enhanced openness of economics and, in particular, to alleviate visa regime for the citizens of a certain group of countries. And finally, one should cardinally intensify the process of training and retraining the governmental staff for a work under new conditions. Hereby, one must utilize maximally that technical aid which is rendered and will be rendered to Tajikistan on the part of developed countries.
The combat for attraction of foreign investments is, first and foremost, a cruel competitive combat. It is no secret that we compete with our neighbors, Afghanistan, Uzbekistan, Kyrgyzstan and other CIS countries. Under these conditions Tajikistan ought to do its best to win this struggle - the national interests of the country require it. As Emomali Rahmonov affirmed, Tajikistan has all the availabilities for investitive stream to be directed to the country and to provide upsurge and efflorescence of national economy. It is only necessary to take advantage of the chance.