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Scientific Dispute on the Problems of Forming an Investment Model of Development of the Country

On December 14, 2018 at the initiative of the Financial Management Department and the Research Institute «Finance» of the TSFEU, a scientific and theoretical conference on the theme «Forming an Investment Model of Development of the Republic of Tajikistan» was held at the Tajik State University of Finance and Economics. It was dedicated to the 27th anniversary of the State Independence of the Republic of Tajikistan. The experts from the Ministry of Finance of the Republic of Tajikistan, the European Union Project, the National Bank of the Republic of Tajikistan, the State Committee on Investments and State Property Management, and representatives of higher educational institutions of the country took part at the conference.
The conference was opened by Bahrom Safarov, Vice-Rector for Science and Innovations at TSFEU. He noted that creating the conditions for innovative development is a main task for the economic development of the country. Attracting investment is the driving force of economic prosperity. But, unfortunately, the analysis finds out that the development of the national economy of Tajikistan occurs without proper investment. In 2017, the volume of investment in GDP was 16 percent. Investment plays a crucial role in increasing GDP. Today, at the conference, we will discuss exactly this theme, scientifically grounded proposals for attracting investment in economy of the country will be developed, - B.Safarov summarized his speech.
Then, Sigitas Brazinskas, Chief Expert of the European Union Project «Support for Individual Directions of Reforms in the Field of Public Finance Management in the Republic of Tajikistan, Lot 1» made a report on theme «Attracting Foreign Direct Investment: measures to ensure development and progress». It was noted that in order to attract foreign direct investment, the following factors were crucial: favorable trading environment; scientific and technological innovations; appropriate infrastructure; development of regional networks, etc. Measures taken to improve the efficiency of investment promotion mechanisms include: ensuring the effective operation of state structures; implementation of digital marketing; organization of conferences and forums. 
Director of the Research Institute «Finance» of the Tajik State Finance and Economics University Khurshed Jumaboev made a speech on the theme «Improving the National Tax System and its Necessity in the Conditions of  Market Economy». He noted that in order to attract foreign investment it is necessary to improve a number of articles of the Tax Code of the Republic of Tajikistan.
In particular, he noted high rates of value added tax in charitable activities, as well as deadlines for the provision of comparative acts that were not established by tax legislation, which leads to unauthorized actions by tax authorities. In order to eliminate the noted deficiencies, the author provided scientifically based recommendations and suggestions.
M. Sodikov, N. N. Soliev, Kh. Davlatov, M. Sadriddinov took part in the debate, who among the factors contributing to greater involvement of  foreign investments named institutional reforms, training of highly qualified personnel, construction of hydroelectric power stations and roads, improvement of tax legislation, creating conditions for improving investment promotion mechanisms.
In the afternoon, the conference continued its work in two sections: investment and development of the economic system; finance and formation of  the foundations for the development of the national economy. The speakers and participants discussed topics such as: the effective use of foreign investment; the role of investment in the socio-economic development of regions; creating and ensuring conditions for attracting foreign investment in the Republic of Tajikistan.
At the end of the conference, the participants provided recommendations and suggestions on the issues considered to the relevant departments and agencies of the Republic of Tajikistan.

Mashhura Abdulloeva