Investing in Turkmenistan – a contribution to peace and trust

Investing in Turkmenistan – a contribution to peace and trust

The year 2021, which was declared by the UN, on the initiative of Turkmenistan, the International Year of Peace and Trust, began in the country with the launch of several significant socio-economic projects. The completion of these will really contribute to stabilizing the situation in Afghanistan and developing integration ties throughout the region.

At the new gas compressor station opening ceremony at the Malay field, the Lebap Region, President Berdimuhamedov said that the policy of Turkmenistan is to use the country’s natural resources for peace, happy life and prosperity of humanity.

Indeed, Turkmenistan is promoting important initiatives that will have effect far beyond its national borders. Such projects require significant financial investments. And since the beginning of this year, official Ashgabat has intensified negotiations with potential investors interested in mutually beneficial cooperation.

During negotiations with Caleb McCurry, Advisor to the Chief Executive Officer of the United States International Development Finance Corporation (USIDFC), the Turkmen party confirmed its intention to jointly participate in the creation of the Central Asian Development Fund (C5 Fund). It is assumed that the fund will contribute to development of the industry, transport infrastructure, agriculture and other sectors in Central Asia.

At the meeting, US partners were invited to take part in the establishment of the International Investment Fund of Turkmenistan. Its implementation is currently carried out by the State Bank for Foreign Economic Affairs in order to support the implementation of large infrastructure projects.

One of the meetings at the Ministry of Finance and Economy of Turkmenistan in early January was held with representatives of the World Bank. It discussed long-term concessional lending for the implementation of various projects, including in the healthcare and medical industry.

The participation of the European Bank for Reconstruction and Development (EBRD) in large-scale infrastructure projects in Turkmenistan was discussed at two meetings held at the same time with representatives of the credit institution. One of them was also attended by specialists from the Turkmen bank “Halkbank”, which has been recently transformed into the Open Joint Stock Company. The meeting discussed support for corporate management in the banking sector of Turkmenistan, which is actively developing in order to attract foreign investment.

Thus, today, with the active participation of the Ministry of Finance and Economy, Turkmenistan is preparing for the implementation of new large investment projects. For this purpose, the approach to attracting foreign funds is being improved, including through transparent joint-stock commercial banks and international investment funds. Reliable credit and financial institutions are invited to participate in the projects.

Jennet OVEZOVA

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