Issues of improving the investment climate and developing the capital market were discussed at a seminar held on the 24th to 25th of April, 2024, organized by the OSCE Centre in Ashgabat.
The purpose of the event is to facilitate the exchange of best practices and practices in attracting foreign and domestic direct investment, as well as the formation of an effective securities market infrastructure as a key factor in stimulating economic growth and ensuring financial stability.
The seminar was attended by representatives of the Ministry of Finance and Economy of Turkmenistan, the Ministry of Adalat, the Ashgabat Stock Exchange, state and commercial banks, higher educational institutions, as well as brokers and other capital market participants.
In their presentations, international experts examined investment security as a component of economic security and the role of domestic investment in economic growth. They emphasized the importance of foreign direct investment for development in terms of maximizing benefits and minimizing costs, and spoke about investments in infrastructure and the energy sector.
Participants discussed issues related to the securities market, its infrastructure, financial technologies and corporate governance in joint-stock companies. It was emphasized that the securities market plays a critical role in attracting investment into the country's economy and it is necessary to develop this mechanism in order to ensure economic growth and financial stability through the effective allocation of capital. The seminar also discussed the «green» financing instruments that are relevant in modern conditions.
As John McGregor, head of the OSCE Centre in Ashgabat, noted, «The Organization for Security and Co-operation in Europe recognizes the importance of creating a favorable business environment for countries seeking to attract investment and develop their private business sectors, as well as ensure economic security». To achieve this goal, which is also relevant for Turkmenistan, which is pursuing an active investment policy, a number of factors are important, including promoting economic cooperation, developing institutional and human potential and strengthening financial infrastructure.
