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Turkmenistan taking measures to attract foreign investments

Business Materials 27 January 2018 17:06 (UTC +04:00)

Ashgabat, Turkmenistan, Jan. 27

By Huseyn Hasanov– Trend:

A report on attracting foreign investments for the implementation of big industrial and infrastructure projects aimed at increasing Turkmenistan’s export potential was heard at the enlarged meeting of the government, Turkmenistan State News Agency reported Jan. 27.

The report was made by Rahymberdi Jepbarov, chairman of the Board of the State Bank for Foreign Economic Affairs of Turkmenistan.

Turkmen President Gurbanguly Berdimuhamedov noted that attracting investments is one of the priority tasks of the country’s development concept.

“This is the most important and necessary condition for the dynamic growth of the national economic complex, its modernization and diversification, as well as a key factor in increasing the competitiveness of the Turkmen economy in global markets,” he said.

It was earlier reported that the State Bank for Foreign Economic Affairs (Vnesheconombank) of Turkmenistan is creating an Investment Fund. The Fund is expected to be created with participation of foreign companies in order to attract investments for financing new projects in the country.

Based on the international tender for the feasibility study and business plan preparation in December 2017, a contract was signed with Baker Tilly Rus Consulting JSC (Russia) and the relevant work was started.

Vnesheconombank is the official agent of the Turkmen government on the international capital market and attracts medium-term and long-term foreign loans for financing of strategically important investment projects.

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