NEWS

Turkmenistan at the speed of a racer (under the guidance of our esteemed President, becoming the country, where the great works are being realized, goes forward, only forward)

Gurbanguly Berdimuhamedov, President of Turkmenistan:   — Putting forward the motto «The state is for people!» we directed our works carried out on developing and changing our country at ensuring the happy life of the present and future generations and at improving the social-living conditions of every citizen and every family. In the Epoch of Might and Happiness great successful achievements attained under the guidance of our National Leader prove that our people living happily achieve great progress in political-economical and cultural-spiritual spheres. And it testifies that every day of our Prosperous Epoch leads our people to further development and fills our hearts with pride.

Textile Industry: Potential and Prospects

The textile industry is one of the leading and fastest growing segments of the national economy. This is illustrated vividly by the annual increase in textile production in recent years. The industry plays a significant role in achieving the state objectives and meets the vital interests of all the regions. Stages of Development

The main source of information for sports enthusiasts

The official website of the Ministry of Sport and Youth Policy of Turkmenistan (www.msy.gov.tm) regularly acquaints readers with various sports news both within the country and abroad on its pages. The site offers readers sports news in Turkmen, English and Russian. The main pages of the site present the results of the competitions, the reviews of the matches and tournaments, sports experts’ showdowns and assessments of victories and defeats.

Interesting facts about finance

Ancient Rome is the first state to mint round coins on an industrial scale. One million US dollars in $ 100 banknotes will weigh about 10 kilograms.

Development of the national economy in the era of might and happiness

The economy of Turkmenistan has been developing quite successfully over the years of independence. And already today, stable socioeconomic growth, reserves of natural resources and the country’s work in conditions of peace and stability make it possible to optimistically evaluate further steps in the development of the national economy. This is also confirmed by the independent authoritative international rating agency Fitch Ratings, which assigned to Turkmenistan a long-term rating B + stable. Such recognition provides additional opportunities for our country in foreign economic activity, confirming its reliability as a trading partner. How did the country manage to achieve such impressive results? Turkmenistan gained independence in 1991. Since then, we have undertaken a number of economic reforms aimed at developing a market economy. Being an industrial-agrarian republic within the USSR, the country, nevertheless, specialised mainly in the extraction of hydrocarbon resources and the production of raw cotton for the needs of the industrial centres of the former Soviet Union. In the system of the so-called all-Union cooperation, to a large extent (and based on modern realities), this was conditioned by the fact that Turkmenistan, in particular, ranks fourth in terms of natural gas reserves (15–20 trillion m3), second only to Russia itself, the USA and Canada. The country

Turkmenistan speeds up the creation of transport transit infrastructure of international significance

President of Turkmenistan takes part in opening Ashgabat-Tejen section of Ashgabat-Turkmenabat highway 29.10.2021. Today, President of Turkmenistan Gurbanguly Berdimuhamedov has taken part in the solemn opening ceremony of the Ashgabat-Tejen section of the Ashgabat-Turkmenabad highway.

XXVI International Conference «Oil and Gas of Turkmenistan-2021» started its work in Ashgabat

On October 27, the XXVI International Conference «Oil and Gas of Turkmenistan-2021» (OGT-2021), dedicated to the 30th anniversary of Independence of the country, started its work in Ashgabat in the building of the Chamber of Commerce and Industry of Turkmenistan in a hybrid format. The objective of this annual prestigious business forum, which contributes to strengthening and developing cooperation between foreign partners with Turkmenistan in the oil and gas industry, is to strengthen the dialogue on the further sustainable development of energy sector, review the latest trends in global energy system and expand opportunities for attracting foreign direct investment in the oil and gas industry of Turkmenistan.

Key vector of economy

One of the most important directions of the foreign economic policy of Turkmenistan is attracting investments in various sectors of the national economy and taking measures for their effective development. The rapidly developing economy of Turkmenistan, its favourable geographic location in the Central Asian region, modern transport communications and reliable strategy to attract investments increase the interest in cooperation on the part of world powers. The investment strategy of the esteemed President Gurbanguly Berdimuhamedov is designed for the long term and is aimed at creating all the necessary conditions for the effective work of investors. In addition, there are all the prerequisites for this: the country’s favourable geographical position, a developed transport network, the presence of rich deposits of natural resources, a high level of development of industrial and social infrastructure, qualified personnel and other factors that allow investors to look far into the future.

Economic strategy of Turkmenistan: A national model of sustainable development

President of Turkmenistan Gurbanguly BERDIMUHAMEDOV: Sacred independence is the foundation of all our development and glorious achievements For 30 years of independence, Turkmenistan, whose economy is developing at an accelerated pace, has firmly consolidated its positions among the countries that are successfully integrating into the world economic space. The achievement of the further progress of the Motherland by stimulating entrepreneurship, introducing advanced technologies, creating joint ventures and joint stock companies, developing insurance, the stock exchange and the securities market and implementing fundamental transformations in all sectors is identified as the priority direction of the economic strategy of President Gurbanguly Berdimuhamedov, the author of innovative initiatives. The main goal of the reforms being implemented to overcome the raw material orientation of the economy, the development of market transformations, the effective use of natural resources and the creation of favourable conditions for the life of people is reflected in the fundamental motto “The state is for the people!”

Trade – a key segment of the economy

Conducted in accordance with the economic strategy of the leader of the nation, the intensification of the trade sphere strengthens foundations of the financial stability of the state, makes an important contribution to the formation of the budget and has a significant impact on the development of production. Growing indicators of domestic trade indicate an increase in the welfare and quality of life of the population, and foreign trade dynamics demonstrates the expansion of the geography of deliveries of Turkmen products to foreign markets. The socioeconomic transformations carried out by the esteemed President Gurbanguly Berdimuhamedov, the introduction of market mechanisms and principles in activities of all sectors of the economy have led to economic growth, also reflected in the sphere of trade. A competitive environment has been formed in it, entrepreneurial activities have been developed, modern methods of organising trade and providing services have been applied.