Today Turkmenistan is building nearly 1,800 facilities worth 35 billion U.S. $ 400 million, while investment in comparison to last year increased amounting to 116.6 percent. This is another sign of growth potential of the national economy, which has also many as yet unused reserves.
A dynamic macroeconomic policy ensures that the significant growth of gross domestic product (GDP) achieved through the implementation of long-term strategic program development, fundamental structural changes - diversification and modernization of industrial and natural-material structure of the GDP. Thus, in the first half of 2012 showed an increase in the GDP, which amounted to 111.1 percent. If we talk about the volume of investments from all sources of funding for the January-May 2012, it should be noted that compared to the same period the previous year this figure rose by 41.7 percent.
The volume of investments over the past five years has grown to more than 9 times. The growth of investment in fixed assets up to 2011 amounted to more than 23 percent, and the ratio of the rate of GDP established at 44 percent. This figure is by far the highest in the CIS.
Formed legal and regulatory framework, including the laws of Turkmenistan "On Foreign Economic Activity", "On foreign investments", "On investment activity in Turkmenistan", "On currency regulation and currency control in foreign economic activity" as well as the Regulation "On the licensing of exports and import of goods (works, services) in Turkmenistan, "President's Decree" On measures to regulate foreign trade activities in Turkmenistan "and other regulations.
In the oil and gas investment policy provides first of all the creation of a diversified system of Turkmen energy resources to world markets through the construction of an extensive system of pipelines. Secondly - the implementation of long-term partnerships with leading international companies on the effective use of natural oil and gas exploration and deep-conducting arrangement of hydrocarbon deposits, both onshore and offshore of the Caspian Sea, in order to increase their production, processing and export .
In the chemical industry will develop chemical manufactures including the construction of urea plants, facilities for the production of potassium chloride, potassium sulfate, caustic soda and chlorine. Also was scheduled for the development of virtually inexhaustible source of valuable chemical feedstock - Gulf Garabogazgol. The most important step in this direction was the signing of the Head of State, and at an enlarged meeting of the Cabinet of Ministers Decree aimed at successful implementation of the tasks assigned to the chemical industry of our country, and in particular, construction of mining plant for the production of potash fertilizers on Garlyk deposit of potassium salts in Lebap. In accordance with this document to the State Concern "Turkmenhimiya" authorized to sign a loan agreement for 10 years with 5 per cent per annum and a 4-year grace period with the National Commercial Bank "Turkmenbashi" in the amount of 150 million U.S. dollars at the expense of the Central Bank of Turkmenistan.
In the domestic textile industry provided the increase in processing of cotton through the creation of new highly profitable textile companies, the introduction of advanced technologies, and production of competitive products for the saturation of both internal and external market.
In other industries, the emphasis is on them to shift from the production of raw material orientation of the final product, a combination of both exports oriented and import-substituting industries. On this basis, parameters are determined and objectives of attracting investments to develop the energy potential of the country, petrochemical, metallurgy, building materials industry.
In the agribusiness investment policy provides, along with production and processing of grain the further development of the cotton, as well as procurement and processing of wool, hides and skins. Among the priority areas is to increase grain production and the creation of high-tech processing, namely the mill and milling facilities, manufacturing high-quality food products and a complete saturation of the domestic consumer market.
In transport and communications mainstream investments aimed at the development of road, air, rail, river and sea transport, road construction and improvement of telecommunications, postal telecommunications
In the field of education provides for the modernization of material-technical base of schools, construction of new schools and preschools, the introduction of information and computer technology, access to the Internet. In the area of healthcare and pharmaceutical industry - the reconstruction of existing and construction of new modern specialized clinics, centers, health centers, as well as accelerated development of the domestic pharmaceutical industry.
Multi-purpose investment policies are organized in the field of urban development. Ongoing improvement and landscaping of cities and towns, a breakdown of new parks, alleys, construction of fountains and other architectural complexes, which are landmarks of cities and favorite places to visit and rest of the townspeople. It creates all the necessary conditions for a dignified life of the Turkmen
Turkmenistan attaches great importance to the development of tourism. All previously adopted plans for the development of this important field of radically revised. Accelerated by large-scale project which is initiated by President Gurbanguly Berdimuhamedov is to organize the creation of a free tourist zone on the Caspian coast to participate in that international investors are attracted.
Currently the private sector creates about 40 percent of GDP. The goal is to bring in 2020 its share to 70 per cent of GDP. In this context it is required to specify the meaning of "State Program for Small and Medium Enterprises in Turkmenistan for 2011-2015". The next step in this direction was the signing by President Gurbanguly Berdimuhamedov at the Cabinet meeting held on 20 July this year, the Resolution "On State Support of Small and Medium Enterprises." In accordance with this document, the private sector by the state provided preferential loans for investment projects related to the production of goods and services, up to 10 years at 5 percent per annum, and up to 1 year for working capital.
A dynamic macroeconomic policy ensures that the significant growth of gross domestic product (GDP) achieved through the implementation of long-term strategic program development, fundamental structural changes - diversification and modernization of industrial and natural-material structure of the GDP. Thus, in the first half of 2012 showed an increase in the GDP, which amounted to 111.1 percent. If we talk about the volume of investments from all sources of funding for the January-May 2012, it should be noted that compared to the same period the previous year this figure rose by 41.7 percent.
The volume of investments over the past five years has grown to more than 9 times. The growth of investment in fixed assets up to 2011 amounted to more than 23 percent, and the ratio of the rate of GDP established at 44 percent. This figure is by far the highest in the CIS.
Formed legal and regulatory framework, including the laws of Turkmenistan "On Foreign Economic Activity", "On foreign investments", "On investment activity in Turkmenistan", "On currency regulation and currency control in foreign economic activity" as well as the Regulation "On the licensing of exports and import of goods (works, services) in Turkmenistan, "President's Decree" On measures to regulate foreign trade activities in Turkmenistan "and other regulations.
In the oil and gas investment policy provides first of all the creation of a diversified system of Turkmen energy resources to world markets through the construction of an extensive system of pipelines. Secondly - the implementation of long-term partnerships with leading international companies on the effective use of natural oil and gas exploration and deep-conducting arrangement of hydrocarbon deposits, both onshore and offshore of the Caspian Sea, in order to increase their production, processing and export .
In the chemical industry will develop chemical manufactures including the construction of urea plants, facilities for the production of potassium chloride, potassium sulfate, caustic soda and chlorine. Also was scheduled for the development of virtually inexhaustible source of valuable chemical feedstock - Gulf Garabogazgol. The most important step in this direction was the signing of the Head of State, and at an enlarged meeting of the Cabinet of Ministers Decree aimed at successful implementation of the tasks assigned to the chemical industry of our country, and in particular, construction of mining plant for the production of potash fertilizers on Garlyk deposit of potassium salts in Lebap. In accordance with this document to the State Concern "Turkmenhimiya" authorized to sign a loan agreement for 10 years with 5 per cent per annum and a 4-year grace period with the National Commercial Bank "Turkmenbashi" in the amount of 150 million U.S. dollars at the expense of the Central Bank of Turkmenistan.
In the domestic textile industry provided the increase in processing of cotton through the creation of new highly profitable textile companies, the introduction of advanced technologies, and production of competitive products for the saturation of both internal and external market.
In other industries, the emphasis is on them to shift from the production of raw material orientation of the final product, a combination of both exports oriented and import-substituting industries. On this basis, parameters are determined and objectives of attracting investments to develop the energy potential of the country, petrochemical, metallurgy, building materials industry.
In the agribusiness investment policy provides, along with production and processing of grain the further development of the cotton, as well as procurement and processing of wool, hides and skins. Among the priority areas is to increase grain production and the creation of high-tech processing, namely the mill and milling facilities, manufacturing high-quality food products and a complete saturation of the domestic consumer market.
In transport and communications mainstream investments aimed at the development of road, air, rail, river and sea transport, road construction and improvement of telecommunications, postal telecommunications
In the field of education provides for the modernization of material-technical base of schools, construction of new schools and preschools, the introduction of information and computer technology, access to the Internet. In the area of healthcare and pharmaceutical industry - the reconstruction of existing and construction of new modern specialized clinics, centers, health centers, as well as accelerated development of the domestic pharmaceutical industry.
Multi-purpose investment policies are organized in the field of urban development. Ongoing improvement and landscaping of cities and towns, a breakdown of new parks, alleys, construction of fountains and other architectural complexes, which are landmarks of cities and favorite places to visit and rest of the townspeople. It creates all the necessary conditions for a dignified life of the Turkmen
Turkmenistan attaches great importance to the development of tourism. All previously adopted plans for the development of this important field of radically revised. Accelerated by large-scale project which is initiated by President Gurbanguly Berdimuhamedov is to organize the creation of a free tourist zone on the Caspian coast to participate in that international investors are attracted.
Currently the private sector creates about 40 percent of GDP. The goal is to bring in 2020 its share to 70 per cent of GDP. In this context it is required to specify the meaning of "State Program for Small and Medium Enterprises in Turkmenistan for 2011-2015". The next step in this direction was the signing by President Gurbanguly Berdimuhamedov at the Cabinet meeting held on 20 July this year, the Resolution "On State Support of Small and Medium Enterprises." In accordance with this document, the private sector by the state provided preferential loans for investment projects related to the production of goods and services, up to 10 years at 5 percent per annum, and up to 1 year for working capital.