Turkmenistan demonstrates high dynamic growth during world crisis

Business Materials 19 October 2012 19:59 (UTC +04:00)

Turkmenistan, Ashgabat, Oct. 19 / Trend H. Hasanov /

Turkmenistan demonstrates high dynamic growth when the world economy has been in a stage of uncertainty for more than four years, the Institute of Strategic Planning and Economic Development said today, Neutral Turkmenistan newspaper reported.

"The domestic demand is expanded due to active investments," the article said.

According to the article, the investments have increased by more than third in annual calculation for the first eight months of this year.

"Over the last five years, the volume of investments have increased by more than nine times, while the share of investments to gross domestic product (GDP) for the same period ranged from one-third to a half of the national product," the article said.

The share of the construction industry in the GDP doubled up to 14 percent. The production of building materials also increases. A new cement plant was commissioned in the Balkan region. A similar plant is being built in Lebap.

The enterprises producing glass, natural coating materials, basalt slabs, tiles, ceramic tiles, waterproof roll material, paints will be built in the future. The plants producing reinforced concrete slabs were reconstructed.

The oil and gas sector has a special place. "Turkmenistan-China" gas pipeline and "Dovletabad-Sarahs-Hangeran" in the direction of Iran were built and made a significant contribution to the diversification of export routes.

It was mentioned that "East-West" internal gas pipeline is being built. It is planned to implement the large-scale project of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline. The hydrocarbon production volumes are increased in the Turkmen sector of the Caspian Sea.

Turkmenistan is aimed at the implementation of priority projects in terms of diversifying the economy, developing the large processing plants. The construction of urea and ammonia plant was launched in the town of Mary in 2011. The first stage of the largest mining and processing complex for the potash production is being mastered in Lebap region.

At present, a large part of the railway corridor North-South has been built. The transport infrastructure is being upgraded throughout the country. Turkmenistan is actively developing a sphere of communications. The national space satellite will be launched.

The Turkmen Institute said that the country's main trade turnover falls to the private sector. The necessary conditions are being created for quality and sustainable development.

The domestic private sector is also actively involved in the many thousands of investment projects in the country.