Riyadh and Dushanbe for joint investment in the industrial and mining sectors

Riyadh and Dushanbe for joint investment in the industrial and mining sectors

Karimi to Asharq Al-Awsat: A Forum for the Business Sector in Riyadh Mid-2022

Sunday – 30 Ramadan 1443 AH – 01 May 2022 AD Issue No. [

Tajikistan seeks to strengthen economic ties with Saudi Arabia, and in this context, Akram Karimi, Tajikistan’s Ambassador to Riyadh (AFP)

Riyadh: Fath Al-Rahman Yusuf

A Tajik diplomat has revealed that coordination is currently underway between officials in the Saudi Ministry of Investment and the State Investment Committee in Tajikistan to arrange the meetings of the Joint Committee and the Business Forum during the coming period, in addition to ongoing coordination. -Arabia to keep. -Tajik Business Sector Forum in Riyadh in the second half of the year 2022, with the participation of representatives of the private sectors in the two countries.
Akram Karimi, Tajikistan’s Ambassador to Saudi Arabia, told Asharq Al-Awsat: “We are preparing to hold the third session in Tajikistan in the coming months, in the presence of Eng. Khalid Al-Falih, the Saudi Minister of Investment and Co-Chair of the Joint Committee, and we look forward to keeping the Businessmen’s Forum on the sidelines of the next session of the Joint Committee. ” To establish partnerships between the private sectors of the two countries.
He pointed out that the Minister of Industry and Mineral Resources, Bandar Al-Khorayef, and his counterpart, the Tajik Minister of Industry and Modern Technology, Sher Ali Kabir, in a recent visual meeting opportunities for cooperation between the two countries in the industry discussed. and mining sectors, where it has been agreed to set up a joint working group and develop a future plan for co-operation. Joint investments in the industrial and mining sectors are expected to be launched soon.
Karimi revealed that the Tajik Minister of Economic Development and Trade, dr. Zafqi Zafkizoda, in a virtual meeting with the President of the Islamic Development Bank, dr. Muhammad Al-Jasser, ways of cooperation between the Bank and the Saudi Fund for Development in the development of hydropower projects in Tajikistan, including the “Ragon” project. Within the framework of the joint work within the framework of the Arab Coordination Group, which states that its country currently has five free economic zones in which there are favorable conditions for the establishment of investment projects and the conclusion of agreements between the foreign investor and these zones.
Karimi announced the preparation of an investment incentive and mutual protection agreement, the project of which was initialed between the Saudi Ministry of Investment and the State Investment Committee in Tajikistan, and is expected to be signed soon during Minister Khalid Al-Falih’s visit to Tajikistan, while the agreement was signed to avoid double taxation between the two countries.It was signed in 2014, in addition to a package of existing bilateral agreements covering several fields.
Karimi added: “For our part, we believe it is time to establish the Saudi Tajik Business Council, especially as there is a memorandum of understanding between the Federation of Saudi Chambers and the Tajik Chamber of Commerce and Industry, which desire on both sides to establish such a council, at a time when we are currently celebrating the thirtieth anniversary of its founding, diplomatic relations between the two countries.
Karimi pointed out that the Kingdom is a key development partner for Tajikistan, within the framework of development programs and projects implemented with the contribution of the Saudi Development Fund and the Islamic Development Bank, and noted that the King Salman Center for relief and humanitarian aid. Action has made remarkable efforts to develop social and humanitarian programs in its country, valued at more than $ 12 million, while programs are currently being implemented, as well as the recently launched mobile medical clinics project in Tajikistan, funded by the King Abdullah bin Abdulaziz Foundation for Charitable Activities in collaboration with the Islamic Development Bank.
Nevertheless, Karimi acknowledged that economic, investment and trade cooperation between the two countries is still at the beginning of the road, and there is a sincere desire on both sides to strengthen these relations in terms of the opportunities and capabilities they have. , which indicates that the candidate areas for economic cooperation between the two countries will be represented in the future in the energy and industrial sectors Mining and agriculture, in addition to increasing the balance of intra-regional trade.
On the key challenges facing the movement of trade and investment between the two countries, Karimi explained that his country is a country surrounded by land that does not overlook seaports, as intra-trade in modern times in the light of the increasing competitions require cheaper transportation methods. , which emphasizes that the logistical issue is of the utmost importance.To activate trade and investment cooperation between the two countries, noting that there have recently been viable efforts by some commercial companies to break this challenge.
He explained that the Tajik “Ameed” Trading Company had recently worked to resolve the logistical dilemma, and launched a route to manage the export and import movement between the Kingdom and Tajikistan by sea from Saudi ports to Pakistani seaports. , from them to Tajikistan, note that the nearest way for Tajikistan’s exit to the sea is through the ports of Pakistan. The Navy, like Karachi and Gwadar, appealed to businessmen and relevant authorities in the Kingdom to study this path to activate the trade movement between the two countries.
Karimi stressed that the renewable energy sector, especially hydropower, is one of the priorities of the Tajik government to bring about sustainable economic development for the country, and looks forward to the Kingdom’s presence through the Public Investment Fund and specialized companies such as ACWA Power in the investment arena in Tajikistan to implement hydropower projects. .
Karimi indicated that its country ranks first in the region and eighth in the world in terms of hydropower resources, estimated at 527 billion kilowatt hours, but the country exploits these resources by only 4 or 5 percent, noting that about 98 percent of electricity in the country is produced by renewable hydropower. Karimi said: “We look forward to the Kingdom becoming an important development partner for us to become one of the countries investing in Tajikistan.” We have had our contacts and meetings in this regard with senior Saudi officials, officials from the Public Investment Fund, the Federation of Saudi Chambers and private sector companies, including ACWA Power. ”

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