BDO appoints new member firm in Tajikistan
May 4, 2011
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”.
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| Note to editors |
Service provision within the international BDO network of independent member firms ("the BDO network") is coordinated by Brussels Worldwide Services BVBA, a limited liability company incorporated in Belgium with its statutory seat in Brussels.
Each of BDO International Limited (the governing entity of the BDO network), Brussels Worldwide Services BVBA and the member firms is a separate legal entity and has no liability for another such entity's acts or omissions. Nothing in the arrangements or rules of the BDO network shall constitute or imply an agency relationship or a partnership between BDO International Limited, Brussels Worldwide Services BVBA and/or the member firms of the BDO network.
BDO is the brand name for the BDO network and for each of the BDO member firms.
The combined fee income of all the BDO Member Firms, including the members of their exclusive alliances, was $5.28 billion in 2010. The global network provides advisory services in 119 countries, with almost 47,000 people working out of 1,082 offices worldwide.
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| Contacts |
Julia Henniker
Brussels Worldwide Services BVBA
Firuz Bulbulov
Managing Partner
BDO Tajikistan
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Tel (+32 2) 778 0130
bws@bwsbrussels.com
Tel (+992) 44 600 8833)
Fax (+992) 44 600 8822
F.Bulbulov@bdo.tj
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