“TAJIKISTAN OFFERS UNTAPPED RESOURCES, A YOUNG WORKFORCE, AND A GROWING DIGITAL ECOSYSTEM, ALL OF WHICH POSITION US AS A COMPELLING DESTINATION FOR STRATEGIC INVESTORS.”

WHAT WERE THE KEY MONETARY AND FISCAL POLICIES THAT SUPPORTED TAJIKISTAN'S ECONOMIC GROWTH, AND HOW DOES THE GOVERNMENT PLAN TO ENSURE MACROECONOMIC STABILITY AMID GLOBAL UNCERTAINTIES?

The pandemic significantly impacted the global economy, and Tajikistan was no exception. Yet, our nation has emerged stronger, entering a new phase of sustainable growth driven by the National Development Strategy to 2030 and a series of targeted sectoral programs. In 2024, Tajikistan's GDP exceeded 150 billion somoni, recording a real growth rate of 8.4%. This marked the fourth consecutive year our economy expanded by over 8%. The IMF has praised our consistent macroeconomic progress, which includes low inflation, expanding reserves, and fiscal discipline.

At the end of 2024, our foreign exchange reserves covered seven months of imports, and inflation was held to 3.6%, below target. The fiscal deficit was maintained at 2.5% of GDP, and public debt was reduced from 52% of GDP in 2020 to just 25% in 2024. Citizens' incomes grew from 48 billion somoni in 2019 to 147 billion somoni in 2024, with significant increases in salaries and pensions, boosting domestic demand. These achievements led international credit agencies to upgrade Tajikistan's sovereign ratings in 2024. Standard & Poor’s raised it from "B-" to "B" with a stable outlook, while Moody’s improved its long-term assessment to "Positive."

Our success is the result of sound fiscal policy, targeted investments, and trust in the financial system. Moving forward, we will continue to expand non-cash payments, enhance financial literacy, support industrial capacity, and strengthen the digital economy. Notably, Tajikistan has declared 2025–2030 the "Years of Digital Economy and Innovation," emphasizing our focus on tech-driven, inclusive growth.

KAZAKHSTAN NOW ACCOUNTS FOR OVER 14% OF TAJIKISTAN’S FOREIGN TRADE. WHAT ARE THE TOP SECTORS FOR JOINT VENTURES, AND HOW DO THESE ALIGN WITH TAJIKISTAN’S BROADER DIVERSIFICATION STRATEGY?

Kazakhstan is more than a neighbor; it is a strategic partner with which we share cultural, historical, and economic ties. During the 2024 Tajikistan–Kazakhstan Investment Forum, held in Dushanbe, both governments and private sectors came together to sign cooperation agreements worth over U$900 million. These cover critical areas such as energy, industry, and digital transformation.

In 2024 alone, bilateral trade grew to U$1.29 billion, a 12.6% increase year-on-year, placing Kazakhstan among our top three trade partners. Over the past decade, Kazakh investment in Tajikistan has reached U$937 million, with over 90 active companies operating across mining, banking, and trade.

These partnerships support Tajikistan's strategic goal of diversifying its economy. The focus is on green energy, infrastructure, tourism, digitalization, and agro-industry. Our collaboration with Kazakhstan exemplifies our broader vision for regional integration and shared prosperity.

TAJIKISTAN’S 2040 NATIONAL INVESTMENT STRATEGY EMPHASIZES GREEN GROWTH AND A COMPETITIVE BUSINESS ENVIRONMENT. WHAT REFORMS ARE BEING IMPLEMENTED TO ATTRACT FOREIGN DIRECT INVESTMENT, ESPECIALLY IN RENEWABLE ENERGY AND SUSTAINABLE INDUSTRY?

Foreign investment is vital for Tajikistan’s development. It brings innovation, technology, and access to global markets. Under the "Open Doors" policy, we are committed to making Tajikistan an attractive destination for international capital. Ongoing reforms are aimed at simplifying business registration, enhancing transparency, modernizing tax incentives, strengthening trade facilitation, and expanding mechanisms for public–private partnerships. We are also improving our legal framework to provide better protection for investor rights and creating a more efficient dispute resolution environment.

These changes align with our ambitions to foster sustainable industries, develop the green economy, and support export-led growth. Tajikistan offers untapped resources, a young workforce, and a growing digital ecosystem, all of which position us as a compelling destination for strategic investors.

WITH TAJIKISTAN’S VAST RENEWABLE ENERGY RESOURCES, HOW IS THE GOVERNMENT SUPPORTING FDI IN CLEAN ENERGY, AND WHAT ROLE DO FLAGSHIP PROJECTS LIKE ROGUN HPP AND CASA-1000 PLAY IN REGIONAL INTEGRATION?

Tajikistan is already a global leader in green energy, with 98% of its electricity generated from hydropower. Yet, only 5% of our full hydropower potential has been developed, leaving immense room for expansion. Projects like Rogun Hydropower Plant, with a 3,600 MW capacity, are at the core of our strategy. Alongside Rogun, we are advancing smaller-scale HPPs like Sebzor and Shurob and building new cross-border infrastructure such as the CASA-1000 project to connect Tajikistan with energy markets in South Asia. We are also collaborating with Uzbekistan to develop new hydropower stations on the Zarafshan River.

Solar and wind energy offer equally promising prospects. Our solar power potential is estimated at 369,600 MW, while wind energy is estimated at over 4,400 MW. The Government has enacted a Renewable Energy Law that provides tax incentives, ensures grid access, and introduces green bonds to finance clean power projects. This energy abundance positions Tajikistan as a regional clean energy exporter and an ideal partner for global investors looking to expand in renewables.

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TAJIKISTAN OCCUPIES A STRATEGIC LOCATION AT THE CROSSROADS OF CENTRAL AND SOUTH ASIA. HOW IS THE GOVERNMENT LEVERAGING THIS POSITION TO EXPAND TRADE AND ATTRACT INFRASTRUCTURE INVESTMENT?

Our geography is our greatest asset. Tajikistan sits at the heart of ancient trade routes and today forms a vital link between Central Asia, China, Afghanistan, and the Middle East. We are actively investing in transport infrastructure to unlock this potential. Major projects include upgrading the Dushanbe–Kulma–Kashgar highway, modernizing road corridors to Iran via Afghanistan, and launching new cross-border logistics hubs. The development of special economic zones in Sughd, Panj, and Danghara also aims to attract manufacturing and logistics operations.

Digital trade is another priority. Through the National Logistics Portal and customs modernization, we are cutting red tape and accelerating cross-border movement. Tajikistan is also partnering with China under the Belt and Road Initiative and with other regional partners to ensure our integration into global value chains. Our goal is to become a transit and logistics hub—a bridge that connects diverse markets and drives shared growth.

TAJIKISTAN RECENTLY INTRODUCED THE "YEARS OF DIGITAL ECONOMY AND INNOVATION" FROM 2025 TO 2030. WHAT ARE THE KEY PRIORITIES UNDER THIS PROGRAM, AND HOW CAN INTERNATIONAL PARTNERS GET INVOLVED?

This initiative reflects our vision to transform Tajikistan into a knowledge-based economy. The program includes expanding broadband infrastructure, supporting tech startups, digitalizing public services, and creating an innovation-friendly regulatory environment.

We are also building tech parks, enhancing ICT education, and fostering international cooperation in AI, fintech, and cybersecurity. Our digital economy will underpin broader reforms in sectors such as energy, agriculture, and logistics. We welcome global partners who share our commitment to innovation and sustainable development. The future of Tajikistan lies in smart, inclusive growth—and we invite the world to be part of this journey.