Turkmenistan joins top ten countries for attracting foreign direct investments
Turkmenistan, Ashgabat, Feb. 6 / Trend, H. Hasanov /
Turkmenistan has joined the top ten countries on the index of attracting foreign direct investments, data published by the UN Conference on Trade and Development (UNCTAD) in the World Investment Report for 2012 said on Tuesday, Turkmen Dovlet Khabarlary (TDH) reported.
The information was posted on the pages of "Finance and Development" quarterly magazine of the International Monetary Fund. The data shows that in 2012, the volume of foreign direct investments in Turkmenistan hit 15.6 percent of gross domestic product (GDP).
This is evidenced by the growth of recent investment volumes, which, according to the macroeconomic indices of developing the national economy recently increased by 8.6 times. As of 2012, investment volumes increased by 38 percent compared to 2011, (TDH) reported.
The exploitation of the huge investment potential and foreign investment in the country is controlled by the Turkmen government.
The law on "Foreign investments", which defines the legal status of foreign investments and fixed forms of making foreign investments, has been adopted in Turkmenistan.
TDH stressed that external factors, the general state of the world capital market and the fact that foreign investors expanding the scope of their activity prefer to deal with countries with a stable political situation are important conditions to attract foreign investments.
"It should be stressed that the investment attractiveness of the country has been stipulated by favorable geographical location, high rates of economic growth, and a strong resource-base," the analytical statement said.