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Tajikistan, Asia

​LIST OF INSURANCE COMPANIES LOGOS IN​ TAJIKISTAN 

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THE INSURANCE COMPANIES OF TAJIKISTAN

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ECONOMY

​Since independence, Tajikistan gradually followed the path of transition economies, reforming its economic policies. With foreign revenue precariously dependent upon exports of cotton and aluminium, the economy is highly vulnerable to external shocks. In fiscal year (FY) 2000, international assistance remained an essential source of support for rehabilitation programs that reintegrated former civil war combatants into the civilian economy, thus helping keep the peace.

International assistance also was necessary to address the second year of severe drought that resulted in a continued shortfall of food production. Tajikistan’s economy grew substantially after the war. The gross domestic product (GDP) of Tajikistan expanded at an average rate of 9.6% over the period of 2000-2007 according to the World Bank data.

This improved Tajikistan’s position among other Central Asian countries (namely Turkmenistan and Uzbekistan), which have degraded economically ever since. As of August 2009, an estimated 60% of Tajikistani citizens live below the poverty line. The 2008 global financial crisis has hit Tajikistan hard, both domestically and internationally. Tajikistan has been hit harder than many countries because it already has a high poverty rate and because many of its citizens depend on remittances from expatriate Tajikistanis.

Energy
The rivers of this region, such as the Vakhsh and the Panj, have great hydropower potential, and the government has focused on attracting investment for projects for internal use and electricity exports. Tajikistan is home to the hydroelectric power station Nurek, the second highest dam in the world. Sangtuda 1 Hydroelectric Power Plant of 670 megawatts (MW) capacity, operated by Russian Inter RAO UES, commenced operations on 18 January 2008 and was officially commissioned on 31 July 2009.

Other projects at the development stage include Sangduta 2 by Iran, Zerafshan by Chinese SinoHydro and Rogun power plant, which, at 335 metres (1,099 ft), is projected to supersede the Nurek Dam as tallest in the world if completed. The Rogun Dam was originally planned to be built by Russia’s Inter RAO UES, but following disagreements, Russia pulled out. In 2010, production resumed with Iranian investment and Chinese assistance.

Besides hydropower, other energy resources include sizable coal deposits and smaller reserves of natural gas and petroleum. In December 2010, Russian Gazprom announced discovery of significant natural gas reserves in Sarykamish field with 60 bcm of natural gas, enough for 50 years of Tajikistan’s domestic consumption. The national power company is Barqi Tojik.

This country is a partner country of the EU INOGATE energy program, which has four key topics: enhancing energy security, convergence of member state energy markets on the basis of EU internal energy market principles, supporting sustainable energy development, and attracting investment for energy projects of common and regional interest.

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Tajikistan, Asia – World Insurance Companies Logos

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