Turkmen economy sees uptick in investments

Turkmenistan Materials 12 June 2024 07:37 (UTC +04:00)
Aman Bakiyev
Aman Bakiyev
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ASHGABAT, Turkmenistan, June 12. Investments in the economy of Turkmenistan increased by 7.5 percent last year compared to 2022, Trend reports.

This was stated by Chairman of the Turkmennebit State Concern of Turkmenistan Guvanch Agajanov at the Gulf Cooperation Council-Central Asian Investment Forum, held in Riyadh city, Kingdom of Saudi Arabia.

He told forum participants about Turkmenistan's rising economy and oil and gas sector, highlighting that last year's investments totaled over $11 billion.

Agajanov noted that Turkmenistan has effective political, legal, and socio-economic conditions to attract foreign investment in industry, particularly oil and gas, and that the Caspian shelf is a priority.

Meanwhile, the Turkmengaz State Concern estimates the nation's hydrocarbon resources at over 71 billion tons of oil equivalent. This volume includes more than 20 billion tons of oil and more than 50 trillion cubic meters of natural gas.