Ashgabat, Turkmenistan, Feb. 26
By Huseyn Hasanov- Trend:
Political stability of Turkmenistan, the state's commitment to principles of positive neutrality, existence of solid potential of natural resources, skilled labor force and improving the legal framework are the most important factors of activating processes of attracting major foreign investments to the projects being carried out, according to the article of the Institute of National Products Turnover of Turkmenistan.
Currently, joint ventures with participation of companies from the UK, Germany, Italy, France, Russia, Malaysia, Turkey, India, Iran, the US and other countries operate in Turkmenistan, according to the article.
Investments are mainly directed to the spheres of processing sectors of domestic oil and gas industry, electricity, construction of railways and roads, development of agro-industrial complex, construction of facilities of social and cultural, as well as industrial use.
In addition, it is planned to implement 33 projects aimed at the development of chemical industry, agriculture, pharmaceuticals, light, food and other branches of industry within the framework of the state program on increasing export volume of products manufactured in Turkmenistan.
In turn, the state program on production of import-substituting goods in Turkmenistan includes implementation of 81 projects. It is planned to construct facilities for processing of meat and dairy, horticultural and fishery products as well.
Turkmenistan, according to the BP's report, was ranked the fourth in the world for natural gas reserves and at this stage the country exports fuel to China and Iran. It was reported at the beginning of 2016 that Russia has stopped purchases of Turkmen gas.
Ashgabat carries out the diversification of the local economy; the country actively develops the industries of textile, oil products, oil and gas chemistry, and for the production of building materials.