Over the past 25 years, since independence, the Republic of Tajikistan has taken steps to improve the well-being of the population and towardseconomic and social development of the society. Solutions to these issues can be achieved by investing in the development of mountainous regions, where mineral resources are concentrated. The recession of the world economy, the fall in raw material prices and the consequence of economic sanctions against Russia have dragged the Tajik economy into crisis. The dependence of Tajikistan's economy on Russia forces Tajik economists to look for new models of growth. Approaches to solving problems depend on alarge extent on investments in mining industry in mountainous regions, where social and economic vulnerability of the population is higher than in the central regions of the republic.

​Tajikistan, being at the crossroads of the Great Silk Road, occupies the most significant position among the post-Soviet regions in development of centuries-old relations between the countries of Southeast Asia, Central Asia, Western Asia and Europe. The development of the Silk Road until the beginning of the 20th century played a huge role in the trade and relations of the countries of the Euro-Asian continent. With the formation of the USSR and the acquisition of independence by the republics of Central Asia, China's current social and economic policy on globalization and the establishment of bilateral relations with the countries of Central Asia under the concept of "One belt - one road" contributes to the development of the complete restoration of the Silk Road. China in recent years has become the leader in terms of direct investment in the economy of Tajikistan. China accounts for 58% (or $272.6 million) of the total amount of direct investment to the Tajik economy last year. In 2014,China accounted for 50% of the total amount of direct investments to Tajikistan, and in 2013 - 48%.

​Tajikistan is a mountainous country, where 93% of the territory consists of mountains; It is obvious that the development of the mining industry will play a big role in raising the standard of living of the population and increasing the stability of the economy.GBAO is the least developedregion of Tajikistan, with a population of 216,900 and a total area of 64,100 km2, which is 44.9% of the total territory of Tajikistan.

​Murghab and Rushan districts are the most perspective regions for investment in GBAO, where various deposits are concentrated: silver - Yakjilva, tin-Pasirud, gold - Rangkul, Marjanaisk ore occurrence, polymetallic deposit "Ikar", iron ore deposit - Barch and manifestation of Gumas Vanjsky region. In addition to the ore deposits in the GBAO territory, there are a lot of non-ore deposits known, such as the Turakulaminsky semi-precious gemstone deposit - Kukhi Laul, Lodzhvardara, marble - Dashtak and Poymazor, where exploration works are carried out, but poor organization of work due to severe climatic conditions and other problems cannot effectively influence the economy of the region, the most important factor is a short working period - 3-5 months.

​In 2016, the GDP of this region amounted to 770 million somoni,GDP growth was6.9% as compared to 2015. Due to the increase of electricity production - 176 336 thousand kW, agricultural products, such as cereals - 16 349 tons (24.5 tons per hectare), potatoes 54 585 tons (21.4 tons per hectare), other vegetables - 15 705 tons (268 tons per hectare), fruit - 19,407 tons (77 tons per hectare), meat - live weight 9,610 tons, dairy products - 20,576 tons, honey - 127 tons. The percentage of employment by sectors: agriculture - 61.3%, industry and construction - 2%.

​A push to the development of the region, in addition to tourism, may be the development of the mining industry, since this region is rich in mineral resources. The difficult accessibility of potential raw material of GBAO does not give investors the opportunity for immediate benefits, however, the organization of modern technological production makes it possible to benefit from the invested funds. From the abovementioned objects, as we know, geological exploration work is underway at one of the deposits of companies, reserves are approved at one site. The company has been working at the facility for more than 10 years, despite difficult working conditions at the facility (oxygen shortage) at 4200 m above sea level and above, in recent years more than 100 jobs havebeen created each year with permission to conduct geological survey from the Government of Tajikistan. 

A mountain village, which is built by “C.A. Minerals” company in Murgab district of GBAO in the Republic of Tajikistan at around 4200 m above the sea level.

​As a rule, the development of the mining industry requires a full geological study. For the first time geological study will be carried out in a certain amount in accordance with the project approved by the Main Department of Geology under the Government of the Republic of Tajikistan, after the reserves are confirmed in the State Reserves Commission, the development of ores will begin with obtaining permission from the Government of the Republic of Tajikistan.

​To develop the deposits, many years will be spent and large investments will be made which will provide jobs to local population, give local residents the opportunity to upgrade their skills and support their families for many years, and provide social stability, which is important for such areas as GBAO. Thus, the standard of living of the population in this region and the income from taxes to the state budget will grow. 

Local working staff which is faces work at 4500 m above the sea level, obtain an modern skills from foreign specialists in duration of 2 years.

​In last years, the republic has made great strides in the development of the mining industry and has gained considerable experience in attracting foreign capital. For example, several large mining companies in the Sughd region, which have been operating for more than 10 years in the Tajik market, have fulfilled their obligations and have improved the social and economic situation in this region.

​It should be noted that GBAO has advantages in the development of the mining industry, based on the results obtained during the USSR and in the 25 years of independence of the Republic of Tajikistan. According to economists, to attract investment, it is necessary to create a favorable investment environment and pay special attention to investors who have been working in this field for many years, to pursue a preferential policy and give them all support. This was said on March 17 by the ADB resident representative, Mr. Xi Yu, who stressed that Tajikistan needs to attract investors and keep them in the country.

​Based on the above stated, I would like to emphasize that in this region there are all prerequisites and there are prospects for attracting foreign capitalto develop the mining industry. As far as we know, in this region works are conductedonly at the stage of geological study. We hope that soon we will see the exploitation of deposits in this region. We are ready to exert our forces and will invest more investments, create more jobs, fulfill our social obligations from the moment of obtaining permission from the Government of Tajikistan.

Author: Jiang LAN, member of AusIMM, Doctor of Economic Sciences, is engaged in research in the field of economic cooperation between Central Asia and China, especially in the mining industry. She defended her doctoral dissertation at the Chinese Geological University.At the moment she works as a vice-president of the corporation «Dao Heng invest» and general director of the branch «С. A. Minerals».