Work on establishment of the Investment Fund of Turkmenistan reached the final stage
The work carried out by the State Bank for Foreign Economic Affairs of Turkmenistan (TFEB) on establishment of an open-type Investment Fund entered the final stage. On 20 June, it was announced by Rahimberdy Jepbarov, Chairman of the Board of the TFEB, as part of the report at the Ashgabat conference on Financing for the Sustainable Development Goals (SDGs).
It was noted that the Fund will be as an open joint-stock company, and will focus its activities on attracting foreign direct investment for the implementation of the SDGs in Turkmenistan. It was also stressed that the Foundation is being developed according to international standards, with the involvement of international experts.
Elena Panova, UN Resident Coordinator in Turkmenistan, who joined high-level forum, commented the news:
“It is a very good initiative, - Ms.Panova noted. - One cannot expect that only the government will invest in the economy of the country, because the role of the private sector is enormous. It is necessary to attract international investment, and this fund will directly stimulate their involvement.
We are positive about the Fund. Of course, it is important how it will be organized, how and by whom it will be regulated. Today we heard that it is being developed according to international standards, and we hope that its establishment will contribute to the growth of investments in Turkmenistan.”
