Middle East investors are interested in infrastructure projects of Turkmenistan
Ashgabat was visited by a representative delegation of the United Arab Emirates, whose head, the Head of the Foreign Policy Department, Sheikh Zayed Al Nahyan, was received by President Berdymuhamedov. The interest of Arab business and investment circles in the Turkmen economic assets has recently become more focused. Middle Eastern businessmen and financiers closely look at the large-scale Turkmen trans-regional infrastructure projects, expressing readiness to participate in them. Probably, the countries of the Middle East are looking for new opportunities for investment amid unstable oil prices. While in many parts of the world, including the Old World, the political situation differs in a heterogeneous and ambiguous impulsiveness and sometimes unpredictability, Turkmenistan demonstrates stability and sustainability in internal and external affairs. Therefore, the Turkmen economy is becoming more attractive for foreign investment. Strong power, reliable law and the legislative framework adopted by the country “buffer” measures to prevent the direct impact of global financial emergencies guarantee the safety and recoverability of these funds. Arab investors are known for their conservatism and caution, so that their attention to this or that sphere is already talking about its potential. In particular, among the promising areas that the Middle East visitors have identified during the talks with the official Ashgabat are fuel and energy complex, the transport complex, the construction of the Turkmenistan-Afghanistan-Pakistan-India gas pipeline, which all the countries involved in the project and many others have high hopes for. For the Turkmen side, Arab investments are a good opportunity for the development and accumulation of innovative experience in many sectors which are being modernized today. Although it is still early to talk about the growth of Arab investments in the Turkmen economy, nevertheless, there has already been observed a certain tendency. Only recently, in November, Turkmenistan signed agreements with the Islamic Development Bank (Saudi Arabia) for the amount of $273 million, which will be used to develop the telecommunications and Internet services system.
