World business has assessed the investment potential of the private sector of the Turkmen economy
On March 18, the International Forum "Investments in the Future of Turkmenistan" was held with great success in the capital of Turkmenistan, bringing together leading representatives of the business community and investment circles from around the world at the Yildiz Hotel. The event, organized as part of the exhibition dedicated to the 17th anniversary of the Union of Industrialists and Entrepreneurs of Turkmenistan, became a key platform for discussing promising investment opportunities in the dynamically developing private sector of the country, exchanging best practices and establishing effective public-private partnerships.
The forum demonstrated a high level of representation, bringing together the Deputy Chairman of the Cabinet of Ministers of Turkmenistan in charge of trade, the UNDP Resident Representative in Turkmenistan, heads of key ministries and departments, authoritative international organizations and financial institutions. The forum was attended by heads of diplomatic missions, members of the Union of Industrialists and Entrepreneurs of the country, as well as an impressive delegation of foreign companies.
The wide geography of the participants underscored the growing global interest in the investment potential of Turkmenistan - delegates from the Russian Federation, Kyrgyzstan, France, Turkey, Germany, Kazakhstan, China, Great Britain, Estonia, the United States of America, Azerbaijan, Ukraine, Afghanistan, the Netherlands, Belarus and the Kingdom of Saudi Arabia were present in Ashgabat.
Speaking at the forum, UNDP Resident Representative Narine Saakyan noted the strategic importance of actively attracting investments to strengthen the economic power of Turkmenistan and achieve the Sustainable Development Goals.
Vice Chairman of the China Council for the Promotion of International Trade (CCPIT) Yu Jianglong emphasized that thanks to the reliable legal framework created in the country, the number of foreign companies interested in implementing investment projects in Turkmenistan is steadily growing.
Head of the OSCE Centre in Ashgabat John MacGregor focused on the long-term fruitful cooperation between Turkmenistan and the OSCE and the special significance of the investment forum for the harmonious economic and social development of the country. He noted that the successful implementation of global investment initiatives contributes to the expansion of opportunities for the private sector of Turkmenistan, strengthening its position on the world stage, establishing new business contacts and exchanging valuable experience.
The forum's rich program included thematic sections devoted to key areas of investment development: support for small and medium-sized businesses, prospects for a circular economy in industry, construction, transport and tourism, as well as the achievements and plans of the private sector in introducing innovations in agriculture.
The forum included an active exchange of views on issues of business support, establishing interaction between international and local investors, financial institutions and representatives of the private sector, as well as studying the best practices of doing business in the region.
The forum participants held fruitful discussions on further steps to unlock the investment potential of Turkmenistan and instruments for stimulating industrial, scientific, technological and socio-economic progress.
The forum resulted in the signing of a number of important bilateral documents, including framework agreements and memorandums of understanding between representatives of the private sector of Turkmenistan and companies from the Russian Federation, the Netherlands, Kazakhstan and China, which indicates specific results and intentions of the parties to develop long-term cooperation.
The forum also featured presentations of the latest products and promising investment projects submitted by private enterprises of Turkmenistan, with an emphasis on their economic efficiency and compliance with high environmental standards.
Numerous bilateral meetings were held on the sidelines of the international forum, during which promising areas for further cooperation were outlined. Large-scale participation and agreements reached confirm that the International Forum "Investments in the Future of Turkmenistan" is an authoritative and effective platform for attracting foreign investment and stimulating sustainable economic growth of the country.
