Countries contributing to the economy of Turkmenistan named

Countries contributing to the economy of Turkmenistan named

Japan, the Republic of Korea, Saudi Arabia, Germany, the United States occupy the first lines in the list of countries-investors in the economy of Turkmenistan. This was announced by the Chairman of the Board of Vnesheconombank Rakhimberdy Dzhepbarov at the presentation of the economic and investment potential of Turkmenistan, which took place today at the Foreign Ministry for the Austrian business delegation.

According to him, in 2021 alone, the country’s Vnesheconombank, which is an agent of Turkmenistan for attracting investments, signed five agreements with foreign financial institutions for a total of $ 236 million.

About half, 49% of investments, are directed to the development of the oil and gas industry, 18% – to the chemical industry, 11% – to the power industry, 10% each – to agriculture, transport and telecommunications infrastructure, and 2% – to other sectors of the economy.

The head of Vnesheconombank also provided data on foreign trade turnover. So, in the first 8 months of 2021, foreign trade reached 9 billion 192 million US dollars, of which the share of exports is 5 billion 472 million US dollars, and imports – 3 billion 720 million US dollars. Thus, a positive balance of 1 billion 751 million US dollars was formed in the country’s foreign trade turnover.

According to Dzhepbarov, the country’s national debt does not exceed 11% of GDP.

“Turkmenistan serves its debt in a timely manner and does not have an overdue amount even during a pandemic,” Dzhepbarov stressed.

Note that in June 2019, an interdepartmental commission on foreign investment was created in Turkmenistan. Then it was reported that it would help to actively attract foreign funds “in all sectors of the economy during the transition of the country to modern market relations.”