BAKU, Azerbaijan, August 13
By Jeila Aliyeva - Trend:
The attraction of foreign direct investment (FDI) beyond natural gas would require the improvement of the regulatory environment, the rationalization of administrative controls and a gradual opening of the economy, Chief of the United Nations Conference on Trade and Development (UNCTAD) Astrit Sulstarova told Trend.
“The corporatization and privatization of state-owned enterprises could also create more opportunities of FDI. In addition, investment in human capital would be needed to be strengthened,” he added.
Talking about Turkmen products that might interest more foreign buyers, Sulstarova pointed out that natural gas is the most important export product.
“Other major goods include crude oil, petrochemicals, textiles and cotton. There would be also a good potential to export more food products,” the UNCTAD chief noted.
Turkmenistan is interested in attracting investments. The investment policy carried out by Turkmenistan creates new work places and allows to improve the living conditions of Turkmenistan’s citizens.
The main form of foreign investment in Turkmenistan is direct investment. Foreign direct investments can improve technical level of enterprises, increase the competitiveness of products and allow manufacturers to enter international markets.
Earlier, President of Turkmenistan Gurbanguly Berdimuhamedov said that fuel and energy sector of Turkmenistan should attract foreign investment.
In the first four months of 2020, the volume of investments into the fuel and energy complex of Turkmenistan amounted to more than 3.73 billion Turkmen manat (over $1 billion), which is 1.3 billion manat (over $371 million) more than in the same period of the last year.
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