Foreign business appreciated the presentation of the investment potential of Turkmenistan in London
The Investment Forum of Turkmenistan, held in London on November 22-23, not only highlighted the growing interest of foreign business circles in the resource, production and transport potential of the Central Asian country, but also helped regulators and players in its market focus more clearly on the opportunities that attract investors and partners.
The event brought together many responsible persons in various sectors of the Turkmen economy in the British capital. In addition to government representatives, the official delegation also included heads of companies and non-state sector structures. The “counter” audience consisted of top managers of dozens of European companies, both already having experience of cooperation with Turkmenistan, and those just looking for ways to establish such interaction.
The two days of the forum were very informative, rich in presentations, thematic sessions and bilateral negotiations, extensive up-to-date information, figures and facts. The speech of Chairman of the Chamber of Commerce and Industry of Turkmenistan Mergen Gurdov, who succinctly described the country’s industrial assets, large promising projects in key areas, without forgetting about reliable legal guarantees for investments, can be called generalizing.
He listed such significant large-scale investment projects successfully implemented in Turkmenistan as a polymer plant in Kiyanly ($3.4 billion), a gas chemical complex in Ahal ($1.7 billion), as well as textile complexes, new power plants, etc.
The city of Arkadag, the second phase of construction of which started recently, was cited as an example of an innovative approach to the development of territories and industrial capacities. Among other things, it provides for the creation of an industrial cluster with more than 10 thousand jobs. Having invited foreign companies to take part in this project, Gurdov also spoke briefly about other plans that may be of interest to investors.
They discussed the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project, the next stage of development of the Galkynysh field, the development of promising blocks in the Turkmen part of the Caspian Sea, increasing the oil flow rate from wells, the development of the petrochemical industry, the construction of new plants, etc.
One of the fastest growing sectors of the national economy is the chemical industry. Here, special attention is paid to expanding the production of mineral fertilizers, which is associated with the potential of the raw material base and agricultural development programs.
As Mergen Gurdov noted, in recent years the country's production capacity for mineral fertilizers has more than tripled. World-famous companies from Japan, the USA and the European Union were partners in the implementation of these projects.
The State Concern “Turkmenhimiya” plans to implement a number of new promising investment projects. Among them are the construction of enterprises for the production of iodine, bromine and their products, caustic soda, basalt fiber, sound and heat insulation materials, as well as the development of hydromineral resources of the Garabogaz Bay, modernization of nitrogen and carbamide production, etc.
In addition, in the chemical industry, dozens of investment projects are being developed in the private sector as well: for the production of caustic and soda ash, chlorine, hydrochloric acid, sodium sulfate, cement and other products from local natural resources.
It is planned to expand the domestic production of televisions, electronic payment terminals, computers, laptops, tablets and other electronic devices, which represents another promising area in investment cooperation.
To this end, the head of the Chamber of Commerce and Industry invited business groups and company representatives to participate in exhibitions and fairs organized in Turkmenistan, as well as to visit the country on special business missions to become more familiar with the prospects of mutually beneficial partnership.
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