Experts: In 2013 share of investment to GDP in Turkmenistan ranged 37-47 percent

Business Materials 29 December 2013 17:49 (UTC +04:00)

Ashgabat, Turkmenistan, Dec. 29
By Huseyn Hasanov - Trend:

In Turkmenistan, the share of investment to gross domestic product ranged 37-47 percent in 2013, while maintaining the upward trend, the material of the Institute of Strategic Planning and Economic Development at the Ministry of Economy and Development said on Dec.28.

"Scale and activity of investment activity throughout Turkmenistan enabled investment growth of nearly 11 times in the past six years, while the share of investment to GDP over the same period ranged from one-third to half of the national product. During 10 months of 2013, investments grew by 7.2 percent, to over 41 billion manat," the information said.

Turkmenistan is transforming into an industrially developed state by implementing the presidential program until 2016. The country observed activation of investment activity both through foreign investors and with the participation of government and private sector of Turkmenistan.

The Turkmen Institute also stressed that in total about 2,000 structures worth more than $35 billion are being constructed at this stage in the country, and more than a third of the total investment is being made by local builders.

In recent years major projects have been implemented, which related to FEC, the processing industry, building materials industry, agriculture, transport, communications, trade, social sphere and service sector.

Implemented and bringing a significant contribution to the diversification of export destinations are two gas pipelines, the Turkmenistan-Uzbekistan-Kazakhstan-China gas pipeline and gas pipeline from Turkmenistan to Iran via the Dovletabat-Sarahs-Hangeran route.
"In addition, gas supplies to China will be increased and the pipelines will be diversified," according to the analytical material.

The project on construction of an internal East - West gas pipeline is being implemented among the priorities as well as the large-scale project of the Turkmenistan-Afghanistan-Pakistan-India (TAPI).

Translated by M.L.

Edited by C.N.