Organized by Tajikistan’s State Committee for Investments and State—owned Property Management (GosKomInvest) under support of the Islamic Corporation for the Development of the Private Sector (ICD), the Dushanbe Business Forum took place in Pugus, Tajik President’s countryside residence in the Varzob district, some 25 kilometers north of Dushanbe.

The First Deputy Prime Minister, Mr. Matloubkhon Davlatov, Deputy Prime Minister, Mr. Murodali Alimardon, GosKomInvest Chairman, Mr. Davlatali Saidov, ICD CEO, Mr. Khaled Al Aboodi, as well as heads of relevant ministries of Tajikistan, representatives of private sector and investors and entrepreneurs from member nations of the Islamic Development Bank (IsDB) attended the meeting.

The main objective of the Forum was to discuss opportunities of expansion of economic cooperation of Tajikistan with IsDB member nation through attraction of investment for development of Tajikistan’s economy.

Tajikistan is an important destination for investors who would like to promote their businesses, Mr. Matloubkhon Davlatov stated during the opening ceremony of Dushanbe Business Forum.

He further added that the Deputy Prime Minister added that “Tajikistan today, has huge opportunities in energy, water resources, and infrastructure spheres.  These opportunities, we can realize with your help. I think that we will find the ways for the prosperity of our people.”

Davlatov underlined the importance of paying attention to the development of the private sector in Tajikistan, stating that Tajikistan is now a member of World Trade Organization (WTO).

The First Deputy Prime Minister outlined sectors like energy, transportation, agriculture, banking and finance, agriculture and water supply as areas needing most investment.  He stressed that the Islamic Development Bank was currently implementing a number of projects aimed at enhancement of Tajikistan’s health, educational, energy and agrarian sectors.

In his remarks, Mr. Khaled Al Aboodi stated that “the forum represents a unique opportunity for investors, business people and policy makers to network and establish business relations.”     

The Dushanbe Business Forum 2013, which was held within the framework of The 38th Annual meeting of the Board of Governors of the Islamic Development Bank (IsDB), meant to create linkages and business relations between Tajikistan and the private sector community in OIC (Organization of Islamic Cooperation) and CIS (Commonwealth of Independent States) countries.

The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral organization affiliated with the Islamic Development Bank (IsDB) Group.  It is authorized capital stands at $2.0 billion, of which $1.0 billion is available for subscription.  The current subscribed and paid-in capital is $875 million and $568 million respectively.  Its shareholders consist of the IDB, 51 member countries, and five public financial institutions.  Headquartered in Jeddah, ICD was established by the IDB Board of Governors during its 24th annual meeting held in Jeddah in November 1999.

The mandate of ICD is to support the economic development of its member countries through provision of finance to private sector projects in accordance with the principles of the Shari’a law.  ICD finances projects that are specifically geared to creating employment opportunities and boosting exports.  Furthermore, ICD mobilizes additional resources for projects and encourages the development of Islamic financing and capital markets.  It also attracts co-financiers for its projects and provides advice to governments and private sector groups on policies aimed at encouraging the establishment, expansion and modernization of private enterprises, development of capital markets, best management practices and enhancing the role of market economy.