Tajikistan Offers Opportunities In Construction, Islamic Banking

Tajikistan, currently undergoing massive redevelopment, is offering investment opportunities for Malaysian companies, particularly in construction and Islamic banking. TM International Tajikistan’s general director Abdurazzok Abdulloev said the country was currently going through rapid development in terms of infrastructure, especially in the major cities.

“Most of our construction projects were stopped back in 2000 and started to pick up only in 2004, (so) we need a lot of expertise in that industry,” he told reporters at the “Seminar in Doing Business with Tajikistan” here Friday.

Abdurrazzok is among 21 trade delegates from Tajikistan who are in Malaysia for the 10-day incoming buying mission which started yesterday.

Tajikistan, a land-locked country, shares a common border with China, Pakistan, India and Afghanistan.

With a population of 7.5 million people, the country has recorded a gross domestic product (GDP) of US$15.5 billion as to date.

On Islamic banking, Abdurrazzok said banks in the country were exploring opportunities to set up Islamic banking window.

Malaysia is seen as a role model in Islamic banking due to its vast experience in managing and developing the industry for over 20 years, he said.

Currently, trade between Malaysia and Tajikistan is “quite small”, he added.

Tajikistan’s main partners for both imports and exports are Russia, China and Uzbekistan.

Total exports to Tajikistan stood at US$1.6 billion in 2008 which covered aluminium, electricity, cotton, gold, fruits, vegetable oil and textile.

The country imported petroleum products, aluminum oxide, machinery and equipment, and foodstuff.

source : afk

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