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АКИpress CA-News Tazabek Turmush
Turkmenistan seeking after major foreign investments
Central Asia | analysis | 12:35, 27 February 2016 | 2343

AKIPRESS.COM - Turkmen government Political stability of Turkmenistan, the state's commitment to principles of positive neutrality, existence of solid potential of natural resources, skilled labor force and improving the legal framework are the most important factors of activating processes of attracting major foreign investments to the projects being carried out, says the report by the Institute of National Products Turnover of Turkmenistan.

Currently, joint ventures with participation of companies from the United Kingdom, Germany, Italy, France, Russia, Malaysia, Turkey, India, Iran, the United States and other countries operate in Turkmenistan.

Investments are mainly sent to processing sectors of domestic oil and gas industry, electricity, construction of railways and roads, development of agro-industrial complex, construction of facilities of social and cultural, as well as industrial use.

It is now planned to implement 33 projects in the country aimed at development of chemical industry, agriculture, pharmaceuticals, light, food and others in the framework of the state program on increasing export volume of products produced in Turkmenistan.

In turn, the state program on production of import-substituting goods in Turkmenistan includes implementation of 81 projects. It is planned to construct facilities for processing of meat and dairy, horticultural and fishery products as well.

Turkmenistan, according to the BP’s report, ranks the fourth in the world for natural gas reserves. At this stage, the country exports fuel to China and Iran. In the beginning of 2016, Russia has stopped purchases of Turkmen gas.

Nevertheless, Ashgabat carries out diversification of the economy, actively developing the industries of textile, oil products, oil and gas chemistry, and building materials.

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