Tajikistan’s tourism and textile sectors – both key sectors for the economy – have been hit hard by the pandemic, with 83 percent of tourism businesses losing more than half their revenue and production volumes in the textile sector declining by 30 percent.
IFC advisory project is financed by the Government of Switzerland’s State Secretariat for Economic Affairs in the amount of USD 2.4 million. It will help the government of Tajikistan to increase the touristic attraction of the country with the simplified visa and permit procedures, reviewed market opportunities and new routes, improved tourism products and offers, and more investments into the small businesses.
“Our aim is to remove the roadblocks that are hindering the development of our economy – by streamlining regulatory processes and boosting competitiveness in important sectors to attract more investment," said Saadi Qodirzoda, Chairperson of the State Committee on Investment and State Property Management. “That will be essential to stimulate economic growth and combat the negative effects of the pandemic.”
“Developing the private sector in Tajikistan is essential to identify new sources of growth and create new markets,” said Dahlia Khalifa, IFC Senior Manager for Creating Markets Advisory in Middle East, Central Asia, Turkey, Afghanistan and Pakistan. “This requires a combined approach to resolving sector-specific bottlenecks while also addressing select issues to improve the country’s business environment.”
The project is part of IFC’s Tajikistan Competitiveness Enhancement Project, implemented in partnership with the government of Switzerland.
“This Swiss funded Tajikistan Competitiveness Enhancement Project is unique as it offers comprehensive support both on policy level but also aims to enhance competitiveness of the local industries prioritized by the Government of Tajikistan such as tourism and the textile sectors to find new opportunities to grow and be sustainable,” said Salome Steib, Director of the Swiss Cooperation Office in Tajikistan.
This initiative is the continuation of the successful Swiss support to the Government of Tajikistan during the last two years aimed at the economic development and also helping the country’s economic recovery from the recent COVID-19 pandemic situation.