In just six years, “Turkmen Senagat” has become the undisputed leader in Turkmenistan’s polyethylene pipe industry. The company’s facilities are located within the Anau industrial zone, the administrative center of the Akhal province. Having a daily production capacity exceeding 250 tons, their state-of-the-art plants churn out a diverse range of polyethylene pipes. This includes smooth […]
ADB to Expand Support for Turkmenistan — Vice-President Shixin Chen
The Asian Development Bank (ADB) is preparing a new country partnership strategy (CPS) for Turkmenistan that will prioritize private sector development; developing human capital, with a focus on women and girls; and climate change, ADB Vice-President Shixin Chen said in meetings with senior officials from the Central Asian nation this week. Tackling climate change is […]
Fitch Revises Turkmenistan’s Outlook to Positive and Affirms at ‘B+’
Fitch Ratings has revised the Outlook on Turkmenistan’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to Positive from Stable and affirmed the IDR at ‘B+’. KEY RATING DRIVERS The revision of the Outlook on Turkmenistan’s IDRs reflects the following key rating drivers and their relative weights: Strengthening Balance Sheets: The external and sovereign balance sheets are […]
EBRD: Turkmenistan’s external position has strengthened significantly
Elvira Kadyrova Turkmenistan’s external position has strengthened significantly and high gas prices are driving force for growth, says the EBRD’s recent flagship report. According to “Transition Report 2022-23”, country’s real gross domestic product (GDP) grew by 6.2% year on year from January to September 2022 and Turkmenistan’s exports added 50 % in the first half […]
Turkmenistan Is Booming: Why?
Chris Devonshire-Ellis Turkmenistan has been rattling along with GDP growth rates of 6.2% during 2022, with the country able to take advantage of high gas prices, with Turkmenistan rich in oil and especially natural gas resources. According to official figures, Turkmenistan’s resource base is approximately 71.64 billion tons of oil equivalent, including 53 billion tons […]
In 2023, the average salary in Turkmenistan will exceed 2500 manat
In accordance with the “Program of the President of Turkmenistan for the socio-economic development of the country in 2022-2028”, average wages in Turkmenistan will increase to 2506.3 manats. This was announced by Chairman of the upper house of the Parliament of Turkmenistan Gurbanguly Berdimuhamedov during a session on Wednesday, 23 Nov. He also voiced a […]
Turkmensenagat – Made in Turkmenistan
The economic society “Turkmensenagat”, the top producer of plastic pipe products in Turkmenistan, was founded in 2008. Having achieved significant success in its industry, the company is expanding its field of activity benefiting from innovative production methods. The modern production enterprise “Turkmensenagat” is located in the industrial zone of the etrap Ak Bugday of the […]
Gurbanguly Berdimuhamedov visited Japan
Last week, from 25 September to 1 October 2022, Chairman of the upper house of the Turkmen Parliament Gurbanguly Berdimuhamedov made a working trip to Japan, during which he took part in the state funeral of former Prime Minister Shinzo Abe. He also held a number of bilateral meetings, including with the Prime Minister of […]
Balkan province is a driver of the fuel and energy complex development in Turkmenistan
The Balkan province is a center of strategic hydrocarbon wealth of Turkmenistan. Almost all 40 oil fields of the country are concentrated in the western region, and it is this region that provides the bulk of Turkmen exports of commercial oil and gas condensate. The task of industrial development of the Caspian lowland, which is […]
Eastern region of Turkmenistan exported about 50% of the cotton yarn output
In January-July 2022, textile factories of the Lebap province produced over 13,124 tons of cotton yarn, 6,183 tons of this volume were exported abroad, reported the State Customs Service of Turkmenistan. In total, there are four modern textile factories operating in the region. During the reporting period, they sold cotton yarn worth over 197.26 million […]
The number of bank cards in Turkmenistan has doubled over last four years
According to the Central Bank of Turkmenistan, as of 1 August 2022, there are 4,981,684 bank cards in circulation in the country. Since January 2018 the number of cards issued by banks of Turkmenistan has increased twice. Since the beginning of 2022, over 210,000 bank cards have been issued. The leader in the number of […]
By 2028, Turkmenistan will invest heavily in the development of industrial potential and create over 30,000 jobs
In the next seven years, Turkmenistan will invest over 278.9 billion manats in the further realization of the country’s production potential and the development of the social system. Such tasks are set in the “Program of the President of Turkmenistan on socio-economic development of the country for 2022-2028”, which was approved by the head of […]
Over 50 facilities will be commissioned in Turkmenistan in 2022
52 large industrial and social facilities are expected to be commissioned this year in Turkmenistan, reported DPM in charge of economy and finance during Thursday (19 May) Cabinet of minister meeting. In January–April 2022, 59% of public investments were allocated to the construction of social facilities and 41% – industrial projects. In January-April 2022 totally […]
President of Turkmenistan visits exhibition of local products and services
Today [13 Apr], President of Turkmenistan Serdar Berdimuhamedov visited the exhibition dedicated to the 14th anniversary of the Union of Industrialists and Entrepreneurs and got acquainted with the range of products and industrial goods produced by representatives of the country’s business circles. Deputy Chairman of the Cabinet of Ministers Ch. Gylyjov and Chairman of the […]
List of treaties and agreements concluded by Turkmenistan with other states on promotion and mutual protection of investments
No. Name date of 1 Agreement between Turkmenistan and Turkey on mutual assistance and protection of investments Ashgabat 02.05.1992 2. Agreement between the Government of Turkmenistan and the Government of the People’s Republic of China on the encouragement and mutual protection of investments Beijing November 21, 1992 3. Agreement between the Government of Turkmenistan and […]
Turkmenistan ready to debate, adopt development plan for next 30 years
nCa Report Turkmenistan has finalized the development plan for the next 30 years. It will be titled “National Program for the Socio-Economic Development of Turkmenistan for 2022-2052: Revival of New Era of Sovereign State” The plan will come up for debate and voting at the extraordinary session of Halk Maslahaty (Peoples’ Council), scheduled for 11 […]
Economic strategy of Turkmenistan: national model of sustainable development
Serdar BERDYMUKHAMEDOV, Deputy Chairman of the Cabinet of Ministers, Doctor of Political Science For 30 years of independence, Turkmenistan, whose economy is developing at an accelerated pace, has firmly consolidated its positions among a number of countries that are successfully integrating into the world economic space. As the priority directions of the economic strategy of […]
Turkmenistan plans revitalization of economy in post-Covid-19 scenario – Part 2
Tariq Saeedi The concept of strategic self reliance of Turkmenistan includes uninterrupted, locally sustainable self sufficiency in the following: Staples including wheat and rice, and their value added products such as wheat flour, bread, etc. Fruit and vegetables Edible oil, mainly cooking oil Meat and meat products Poultry and eggs, and their value added products […]
Turkmenistan in 2018
Tariq Saeedi Ashgabat, 14 December 2017 (nCa) — The official New Year tree will light up tomorrow, marking the shift of the country into a festive mood in anticipation of 2018, a year that would be full of challenges and opportunities. * * * According to the Chinese astrology, 2018 would be the Year of […]