DUSHANBE, August 20, Asia-Plus — The Association of Anticrisis Managers of Tajikistan (Association) has applied to the lower chamber (Majlisi Namoyandagon) of the parliament (Majlisi Oli), offering a number of amendments to the country’s law on bankruptcy, which was adopted in 2003.
Speaking in an interview with Asia-Plus, the Association head Munir Kalemulloyev noted that the offered amendments are aimed at simplifying the procedure of liquidation of enterprises (bankruptcy) and raising the country’s rating in the World Bank’s surveys.
He noted that the World Bank Doing Business ranked Tajikistan 99th among 178 countries in easy of closing a business through bankruptcy.
We will recall that the World Bank Doing Business project provides objective measures of business regulations and their enforcement across 178 countries and selected cities at the subnational and regional level. Tajikistan is ranked 153 rd among 178 countries in terms of the ease of doing business index.
Economies are ranked on their ease of doing business, from 1 – 178, with first place being the best. A high ranking on the ease of doing business index means the regulatory environment is conducive to the operation of business. This index averages the country”s percentile rankings on 10 topics, made up of a variety of indicators, giving equal weight to each topic. The rankings are from the
Doing Business 2008
report, covering the period April 2006 to June 2007.
According to the Association specialists, the offered changes and addenda will promote simplification of the bankruptcy procedure that will allow entrepreneurs to save time and money.
“It is to be noted that no budgetary expenses will be needed for making amendments to the law; on contrary, budgetary financing of some bodies, authorized to consider bankruptcy cases, because timetable for consideration of the bankruptcy procedures will reduce,” Kalemulloyev said.
