BDO, the world’s fifth largest accountancy network, is pleased to announce the appointment of a new member firm in Tajikistan, effective 21 April 2011.

Previously operating as audit and consulting company Asian Business Group (ABG), established in 2005, BDO Tajikistan will be centred in Dushanbe, the country’s capital, and foresees a considerable growth in income in the next few years. The new firm will be owned by Firuz Bulbulov and BDO Eurasia B.V., a company formed by BDO and its member firms in Cyprus, Georgia, Israel, Kazakhstan, Russia and Ukraine, with the objective of developing BDO activities in the Eurasia region. BDO Azerbaijan joined this group of firms in October 2010.

Firuz Bulbulov, Managing Partner, is very optimistic about the future of the new BDO firm: “There have been a number of significant developments in Tajikistan in recent months. Water is an extremely important resource in our country and the planned investments in new hydroelectric plants in the next few years will not only increase the production of electricity for domestic consumption, but will impact on the development of other production sectors which can benefit from cheap electricity. Tajikistan has also been the recipient of substantial infrastructure development credits from international funding entities such as the World Bank and the EBRD. This, together with the current economic crisis, is increasing the demand by investors, lenders and government in Tajikistan for reliable financial statements. These entities will be pleased to be able to call upon a reliable firm offering competitive fees, for whom the interests of the client come before everything else: BDO”.

Martin van Roekel, CEO Europe and Global head of Network development for BDO, adds “Although some other international networks serve Tajik clients on occasion, only one of the largest networks actually has an office established there. The level of audit and assurance services already offered by our firm is high, as they have a good reputation in the market and a solid list of clients. BDO’s reputable brand and consistent methodology will increase both the quality of work and the number of clients and there is the potential to increase other consulting services also. Our firm will be focusing on large and medium sized businesses in the energy, telecommunications, mining, metallurgy and finance industries and intends to strengthen its relationship with the financial directors, shareholders and state officials both in government and at international donors”.