Tuesday, February 08, 2011 -
The new office of the Kazakh-Tajik investment fund will open its doors on Wednesday in the Tajik capital Dushanbe, a Tajik government agency announced on Monday.
The State Committee on Investment and State-owned Property Management, also known as GosKomInvest, made the announcement on Monday.
The joint investment fund, which holds $100 million, is intended to jumpstart the Tajik economy and focus on economic sectors of interest to both countries. These sectors include mining, agriculture and electricity generation.
Tajikistan is encouraging Kazakh investors to support hydropower projects to help the country cope with its chronic energy shortages.
The idea of a joint investment fund began during a state visit to Tajikistan by Kazakh President Nursultan Nazarbayev in September 2007. A deal was inked in November 2010 between Kazakhstan’s sovereign wealth fund, Samruk-Kazyna and GosKomInvest to create the investment fund.
“The overall goal of the Kazakh-Tajik fund, which is registered in Kazakhstan, is to implement investment projects on the territory of Tajikistan that are linked with Kazakhstan’s economy and other projects,” the Tajik news agency AsiaPlus reported Kazyna Capital Management board chairman Abai Alpamysov as saying on November 24.