Deputies of Tajikistan’s lower house (Majlisi Namoyandagon) of parliament (Majlisi Oli) have unanimously voted for ratification of an investment agreement signed between the Government of Tajikistan and LLC Amiri in January this year.
A regular sitting of the Majlisi Namoyandagon, presided over by its head, Shukurjon Zuhurov, took place on March 6.
The agreement reportedly provides for modernization of existing facilities and construction of new facilities.
The new facilities are expected to produce confectionery, starch, glucose syrup, as well as bakery products.
LLC Amiri top manager Akmal Homidov noted that the company would provide 23 million U.S. dollars for implementation of the agreement.
According to him, 6.5 million U.S. dollars will be spent for construction of facilities and 16.5 million U.S. dollars will be spent for technical equipment.
Modernization of existing facilities and construction of enterprises is expected to take eight years, Homidov said.
In accordance with the agreement, the company’s existing confectionery facilities and new facilities will be exempted from paying the value added tax (VAT), profit tax and customs duties during ten years.
Speaking at the session, Farrukh Hamralizoda, the head of the State Committee on Investments and State-owned Property Management (GosKomInvest), noted that with introducing new facilities into operation the company would produce 27,000 tons of confectionery, 8,000 tons of starch and glucose syrup, and 12,600 tons of bakery products.
Boosted by a US$1.3 million IFC loan, LLC Amiri began operations at its confectionery plant in Dushanbe in 2011. Just three years later, Amiri led the domestic market with a diverse product range of more than 40 chocolates and sweets.
