The Minister of Industry and New Technologies Zarobiddin Faizullozoda says that bank loans carrying high-interest rates impede development of the country’s economy.
An interagency meeting to discuss issues related to resuming operations of idle industrial enterprises took place in Dushanbe at the end of the last week.
Prime Minister Qohir Rasoulzoda in mid-February ordered relevant ministries and industries to take adequate measures to ensure rehabilitation of non-operating enterprises and establishment of new industrial enterprises in the country.
Speaking at the interagency meeting, Minister of Industry and New Technologies Zarobiddin Faizullozoda outlined the main factors impeding an intensive development of the country’s industrial sector.
Among the main factors impeding the development of industry in Tajikistan, the minister, in particular, named depreciation of equipment, low level of competition, shortage of highly qualified specialists (top and middle managers) and so forth.
Faizullozoda also noted that bank loans carrying high-interest rates have also impeded development of the country’s economy.
Recall, Faizullozoda told reporters in Dushanbe on February 10 that 149 Tajik industrial enterprises were not in operation in last year.
“Of them, 45 enterprises became bankrupt and they are currently at the liquidation stage. 29 other enterprises were not in operation last year due to non-competitiveness or lack of raw materials,” said the minister. “Besides, 23 enterprises did not operate last year due to depreciation of equipment and nine other enterprises were not in operation in 2019 for failure to get mining licenses.”
According to him, 43 industrial enterprises were not in operation last year due to financial problems, tax debts, etc.
“In all, 2,164 industrial enterprises were reported in the country last year,” Faizullozoda said, adding that 219 new industrial enterprises and workshops were launched in Tajikistan last year, including 38 enterprises operating in mechanical engineering, 53 enterprises operating in the light industry, 50 enterprises operating in the building materials production sphere, 62 enterprises operating in the food industry, two enterprises operating in the mining sector, one enterprise operation in the coal producing sector, etc.
