The Minister of Finance and Economy spoke about priority areas for investments in Turkmenistan
These days, Turkmenistan is widely celebrating the implementation of one of the largest national projects - the opening of the Arkadag smart city, which is an excellent example of combining digital and green technologies aimed at increasing the welfare of citizens and improving the environmental situation in the country.
This project is an example of the implementation of the provisions of the "New Urban Agenda" approved at the Habitat-3 conference, said the Minister of Finance and Economy of Turkmenistan Serdar Joraev, speaking at the international investment forum, which is being held in the city of Arkadag on Friday.
The Minister briefly described the country's investment policy for foreign delegates, stressing that it is aimed at increasing the share of such sources of financing as own funds of organizations and the population, foreign investment, while reducing the share of State budget funds in the total volume of investments in fixed assets.
Turkmenistan aims to create an industrial society. In this regard, a radical transformation of the national economy is being carried out, its reorientation from the raw material to the model of industrial and innovative development, the introduction of high-tech, knowledge-intensive industries, the transition to the digital economy, the construction of modern enterprises for the production of products with high added value that are in demand on world markets.
In this regard, it should be noted that Turkmenistan, in addition to exporting natural gas to countries such as China, the Russian Federation, Azerbaijan (swap supplies via Iran), successfully exports petroleum products, gas and petrochemical products. The geography of exports of electricity and mineral fertilizers, building materials, chemical and food products is expanding. The growth of exports of non-hydrocarbon industries is stimulated by the widespread introduction of innovative technologies and digital systems in all areas of production, which increases the productivity and competitiveness of domestic products.
The Minister noted that a promising direction of Turkmenistan's investment policy is the creation of new industries processing hydrocarbon raw materials. At the same time, great importance is also attached to the diversification of energy flows from Turkmenistan, the construction of trunk pipelines, calling the TAPI project.
Serdar Jorayev also highlighted in the investment strategy a focus on the development of the private sector of the national economy, pointing to state support for entrepreneurship. According to him, the share of the non-state sector is growing and by the end of this year is expected to amount to 71.3% of GDP, excluding the fuel and energy complex.
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