DUSHANBE, January 27, 2010, Asia-Plus  -- A seminar to make local entrepreneurs aware of new rules of the bankruptcy procedures in Tajikistan took place in Dushanbe on January 26, according to the State Committee for Investments and State-owned Property Management (GosKomInvest).

Staged by GosKomInvest and the Association of Anti-crisis Managers of Tajikistan under technical support of the GTZ Project, Support for Small and Medium-sized Businesses in Tajikistan, and the USAID Business Environment Improvement (BEI) Project, the seminar aimed to make representatives of the private sector aware of amendments that were recently made to the country’s law on bankruptcy.

The seminar participants included more than 20 representatives from relevant governmental bodies, private sector and a number of international organizations active in the country.  They discussed issues related to the legal foundation for conducting bankruptcy procedures.  Besides, the new procedure of bankruptcy for legal entities was presented at the meeting. 

Adopted on May 15, 2009, the law on making amendments to the country’s law on bankruptcy is dedicated to promote recovery of the country’ economy and raise its efficiency and the amendments significantly simplified the bankruptcy procedures that allows legal entities saving time and money, the GosKomInvest said.