Foreign investments

The bulk of all foreign investment in Turkmenistan falls on Japan …

(MENAFN- Trend News Agency) In recent years, in cooperation with foreign organizations, around US $ 15 billion of foreign investment has been attracted to the economy of Turkmenistan. The president of the State Bank for Foreign Economic Affairs, Rakhimberdy Dzhepbarov, spoke about it in an interview with the official Turkmen press, Trend reports citing Oligas.

He noted that 52% of foreign investments were directed to the development of Turkmenistan’s oil and gas sector, 18% – chemical industry, 10% – transport and communication infrastructure, 11% – agriculture, 9% – energy.

The bulk of all foreign investment – 47.4% – is in Japan, 19% – in the Republic of Korea, 11% – in Saudi Arabia, 6.3% – in Germany, 5% – in the United States and the remaining 11.3% – in investments attracted by other states.

Since more than 80% of foreign capital was directed to the development of industry in the country, this contributed to the accelerated diversification of the national economy, the realization of the country’s enormous resource potential and the creation of thousands of new jobs.

Dzhepbarov also noted that today the size of Turkmenistan’s external financial obligations is equal to 11% of GDP, which is the normal ratio in international practice.

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