INVESTMENT PROCESSES IN THE INDUSTRIAL AND INNOVATIVE DEVELOPMENT OF THE REPUBLIC OF TAJIKISTAN

Abstract

This article analyses investment processes as a key factor in the industrial and innovative development of the Republic of Tajikistan over the thirty-five years since the country gained independence. The relevance of this research stems from the fact that the transition of the national economy from an industrial to an industrial-innovative growth model, as set out in the National Development Strategy of the Republic of Tajikistan for the period up to 2030 (NSD-2030), requires a re-evaluation of the role of investment – not only as a quantitative resource for capital accumulation, but also as a qualitative instrument for the structural modernisation of the economy, particularly industry. This paper systematises theoretical approaches to the categories of the ‘investment process’ and ‘industrial-innovation development’. Based on an analysis of official statistics from the National Bank of Tajikistan, the State Committee for Investment and State Property Management, the UNCTAD World Investment Report, and the WI