BAKU, Azerbaijan, June 8
By Jeila Aliyeva - Trend:
President of Turkmenistan Gurbanguly Berdimuhamedov called for attracting foreign investment into the country, Trend reports with reference to Turkmenportal Information Portal.
In return for investments, foreign entrepreneurs would receive manufactured production, Berdimuhamedov said at the meeting of the Cabinet of Ministers.
"Investments should be attract into construction of new facilities, including those of major projects," said the president.
Deputy Prime Minister Myratgeldi Meredov, who is in charge of country’s oil and gas sector, was ordered to ensure stable operation of enterprises, effectively use their resource bases and export potential, as well as develop international cooperation in these areas.
The meeting discussed statistics of the country's economy for the first five months of 2020.
The president also stressed that it is necessary to increase the volume of oil and gas production and processing in the country.
The structure and management system of the production units of the sector should be improved in accordance with the market, he said.
The prices of oil and petroleum products have significantly decreased in international markets, so the president ordered to determine the strategy to sell these products to foreign consumers.
According to the president, attracting investments, including foreign ones, is one of the necessary conditions for the full implementation of Turkmenistan’s socio-economic development program for 2019-2025.
The law of Turkmenistan about investment activities determines the legal, economic and social conditions of financing in the territory of Turkmenistan. This law is aimed at ensuring equal protection of the rights, interests and property of investment entities, regardless of the form of ownership.
The banking system in the country is also actively involved in attracting foreign investments.
