Terminals of the Turkmenbashi International Seaport can be transferred to trust management
Turkmenistan is considering the prospects of transferring the terminals of the Turkmenbashi seaport to trust management. This topic was discussed during an online meeting by representatives of the Agency of Sea and River Transport of Turkmenistan "Turkmendenizderyaellary" and the international company "KPMG Tax and Advisory LLC", according to a statement published on the official website of the Agency of water transport.
Trust management is a method in which the owner of assets transfers them to a trustee – an investor or another trustee based on a signed contract. In legal practice, with this type of management, the ownership right remains with the owner of the assets, and the trustee disposes of them only in his interests.
Another of the objectives of trust management is to attract foreign and domestic investments into the economy of Turkmenistan. KPMG representatives expressed interest in cooperation in expanding the services and capabilities of the Turkmenbashi International Seaport.
KPMG is a global brand under which an international network of firms providing audit, tax and consulting services operates. The company's offices are located today in 147 countries around the world, employing 219,000 employees. KPMG's task is to analyze the market situation, develop strategies and approaches to doing business.
Earlier, the Emirati Company AD Ports Group expressed interest in obtaining the container terminal of the Turkmenbashi International Seaport for trust management on long-term terms.
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