USAID’s support can increase foreign direct investment in Turkmenistan - official

Finance 18 January 2022 16:16 (UTC +04:00)
USAID’s support can increase foreign direct investment in Turkmenistan - official

BAKU, Azerbaijan, January 18

By Amina Nazarli - Trend:

USAID’s support to establishing and strengthening a stable and reliable Ashgabat Stock Exchange can potentially increase foreign direct investment and create new opportunities for economic growth, job creation, and inclusive development, Tammy Paltchikov, Public Affairs Officer told Trend.

“USAID development strategies in Turkmenistan strengthen and diversify the Turkmen economy, build citizen-responsive institutions, increase good governance, empower youth, and expand access to health care services,” she said.

According to Paltchikov, based on a comparative legal analysis USAID conducted in 2021, USAID plans to conduct a series of training for key stakeholders involved in the Ashgabat Stock Exchange.

“The training will share other countries’ experiences in establishing new securities markets and the associated organizational structures,” she said.

In his words, USAID also plans to engage with the leadership of the Ashgabat Stock Exchange, Turkmenistan’s Ministry of Finance and Economy, Mejlis (legislative institution) of the Milli Gengesh (National Council), the Central Bank, the national banking sector, and other business organizations to develop an action plan that identifies additional support required to further develop the Ashgabat Stock Exchange.

The officer emphasized that USAID development assistance in Turkmenistan supports the Program of the President of Turkmenistan for the Socio-economic Development of the country for 2019-2025, which includes the development of the Ashgabat Stock Exchange.

He added that the agency will continue to support and coordinate activities aligned with national priorities and plans.