Economy
There are 78 companies with Turkmen capital operating in Azerbaijan
20.09.2025There are currently 78 companies with Turkmen capital operating in Azerbaijan in the industrial, transport, construction, trade and service sectors. This was announced by Azerbaijan's Deputy Minister of Economy Sahib Nureddin Alekperov at the Turkmenistan Investment Forum (TIF 2025). This was reported by the news website Turkmenportal. The Deputy Minister noted the growth in mutual trade in agricultural and processed products, but stressed that the potential for cooperation is not being fully exploited. According to Alekperov, the opening of Azerbaijan's trade mission in Uzbekistan, which will also cover other Central Asian countries, will create new opportunities for exports, investments and joint projects with Turkmenistan.
The UN expressed support for Turkmenistan's investment potential
20.09.2025The UN took an active part in the Turkmenistan Investment Forum, focusing on issues of inclusive development, strengthening regional ties and promoting sustainable investment. This was reported by the online publication Arzuw.news. UN Resident Coordinator Dmitry Shlapachenko moderated a high-level plenary session where the prospects for Turkmenistan's investment climate were discussed. In addition, Economist at the UN Resident Coordinator's office in Turkmenistan Vladimir Valetka presented an analytical review on energy integration and sustainable transport development to the participants. The organisation confirmed its readiness to continue supporting the reforms being carried out in the country and also announced its intention to participate in upcoming regional discussions.
Turkmenistan adopts Armenian experience in stock market development
20.09.2025From 15 to 19 September 2025, a Turkmen delegation visited the Republic of Armenia to study the experience of developing the securities market. The visit was held as part of a joint project between the United Nations Development Programme and the Ministry of Finance and Economy of Turkmenistan. This was reported by IIC. The delegation included representatives of the country's Ministry of Finance and Economy and the Ashgabat Stock Exchange. The purpose of the trip was to familiarise themselves with the legal and institutional aspects of the functioning of the Armenian stock market. During the visit, the delegation visited the Financial Markets Directorate of the Central Bank of Armenia, the Armenian Stock Exchange, the Central Depository and the Armenian State University of Economics. Particular attention was paid to issues of regulation, securities listing and investor support. The experience gained will be used to improve national legislation and develop the financial market of Turkmenistan in accordance with international standards. This is in line with the objectives of the country's National Socio-Economic Development Programme for 2022-2052.
New partnership agreements signed at Turkmenistan Investment Forum
19.09.2025At the Turkmenistan Investment Forum (TIF 2025), held in the ‘Avaza’ National Tourist Zone, a number of agreements were signed reflecting Turkmenistan's desire to expand international cooperation in key areas. This was reported by the Orient news agency. The Ministry of Finance and Economy of Turkmenistan and the World Bank agreed on a grant under the ‘One Health in Central Asia’ project, aimed at protecting food systems and ecosystems. The Ministry of Industry and Construction of Turkmenistan signed a Memorandum with the Austrian company ‘Primetals Technologies Austria GmbH’, which specialises in metallurgical innovations. The Chamber of Commerce and Industry of Turkmenistan and the West London Chambers of Commerce have signed a Cooperation Agreement that will give Turkmen companies access to international markets. The Ministry of Finance signed a Memorandum with the World Free Zones Organisation (World FZO), which brings together more than 1,200 sites around the world. These agreements demonstrate the multi-vector nature of Turkmenistan's foreign economic policy and its readiness to develop partnerships in healthcare, industry, trade and the development of economic zones.
SOCAR has expressed interest in participating in the development of Turkmenistan's oil fields
19.09.2025Azerbaijan's state oil company SOCAR has expressed interest in projects to develop fields in Turkmenistan. This was announced by Azerbaijan's Deputy Minister of Economy Sahib Nureddin Alekperov at the Turkmenistan Investment Forum (TIF 2025) in ‘Avaza’, according to the news website Turkmenportal. He noted the promising prospects for cooperation in the electric power industry: Azerbaijan is ready to ensure the transit of Turkmen electricity and is considering the possibility of jointly bringing Central Asian ‘green’ energy to European markets. According to the Deputy Minister, cooperation between the two countries plays a key role in the development of the East-West transport corridor and increasing the efficiency of the Middle Corridor. In seven months, transit shipments between Azerbaijan and Turkmenistan exceeded 1 million tonnes, which is 13% more than last year's figure; 76% of cargo was transported by rail.
Investments in Turkmenistan's economy in 2024 amounted to more than $12.1 billion
19.09.2025Investments in Turkmenistan's economy exceeded $12.1 billion in 2024, according to Mammetguly Astanagulov, Minister of Finance and Economy of Turkmenistan, speaking at the TIF 2025 forum, as reported by the news website Turkmenportal. According to the Minister, the share of foreign investment reached 11.6% and grew by 1.4% compared to 2023. In monetary terms, this is almost 5 billion manats, which is 25% more than last year's level. M. Astanagulov noted that stable fiscal policy and tax incentives contribute to investment growth. The priority areas remain the oil and gas sector, gas and petrochemicals, energy, construction and industry.
Azerbaijan will provide Turkmenistan with an oil tanker
19.09.2025The Baku Shipyard has begun construction of an 8,000-tonne oil tanker, which will be presented to Turkmenistan. This was announced by Azerbaijan's Deputy Minister of Economy Sahib Nureddin Alekperov at the Turkmenistan Investment Forum (TIF 2025), according to the news website Turkmenportal. The Deputy Minister emphasised the prospects for cooperation between the two countries in shipbuilding, noting that Azerbaijan has the largest merchant fleet on the Caspian Sea and the shipyard is capable of producing various types of vessels. The construction of the tanker is being carried out within the framework of a bilateral partnership in this area. The TIF 2025 forum is being held in the ‘Avaza’ National Tourist Zone.
Turkmenistan and Switzerland strengthen economic partnership at TIF 2025 forum
19.09.2025On the sidelines of the Turkmenistan Investment Forum (TIF 2025) held in the ‘Avaza’ National Tourist Zone, Nicolas Ramseier, Chairman of the Swiss Foreign Business Council, delivered a speech. In his speech, he emphasised the commonality of approaches and the complementarity of the economies of the two countries. This was reported by IIC. Referring to his experience in business and politics, Ramseier pointed to the need for a comprehensive approach to ensuring stability and sustainable development, combining business and legislative practices. He expressed confidence that Switzerland and Turkmenistan adhere to similar principles based on neutrality, stability and prosperity through cooperation, and that their economies are complementary: Switzerland has advanced technologies and capital, while Turkmenistan is rich in resources and offers vast opportunities. The Swiss representative outlined specific areas of cooperation of interest to the council members, including Turkmenistan's potential in the field of renewable energy, where Switzerland is ready to provide investment and expertise, and cooperation in reducing methane emissions with the involvement of leading engineers. Emphasis was placed on Swiss investors' interest in developing the ‘Galkynysh’ field. Ramseier emphasised that all these initiatives are practical proposals for joint work.
Over 800 delegates from 45 countries are participating in the TIF-2025 forum in Avaza
18.09.2025The Turkmenistan Investment Forum (TIF-2025) opened on 18 September in the ‘Avaza’ National Tourist Zone, with the main goal of attracting foreign and domestic investment to the country's economy. The forum will last two days, until 19 September. This was reported by Turkmenportal. At the opening ceremony, Turkmenistan's Minister of Finance and Economy Mammetguly Astanagulov read out a welcome address from President Serdar Berdimuhamedov to the participants. According to the organisers, TIF-2025 brought together more than 800 delegates from over 45 countries. Among them were representatives of government agencies, international organisations, as well as leaders of large companies and business circles.
Turkmenistan expands renewable energy and oil and gas technologies
18.09.2025Turkmenistan is actively developing projects in the field of ‘green’ energy and digitalisation of the oil and gas industry. This was reported by the news agency Orient. In rural areas, solar panels and wind turbines are increasingly being used to supply electricity to households, and the government is considering launching local production of equipment with the involvement of foreign investment. ‘Smart’ wells and digital fields are being introduced in the oil and gas sector, allowing for increased production and reduced costs by up to 20%. A new building with solar and wind installations has been opened at the State Energy Institute, where specialists in renewable energy, robotics and AI will be trained. Turkmenistan is cooperating with German universities to develop scientific research. The modernisation programme aims to conserve resources, improve the environment and strengthen the country's energy security.
Turkmenistan and the UN organised a forum on financing the SDGs
17.09.2025The UN and the Government of Turkmenistan held a parallel event to the Investment Forum at the UN House in Ashgabat, dedicated to issues of financing sustainable development. This was reported by the online publication Arzuw.news. Representatives of government agencies, UN experts and development partners participated in the discussions. They summarised the results of the 4th International Conference on Financing for Development and reviewed national approaches to achieving the Sustainable Development Goals (SDGs). The results of a joint assessment of SDG financing needs were presented, as well as the experience of European and Central Asian countries in attracting investment. The meeting confirmed Turkmenistan's readiness to strengthen international cooperation and develop strategies to achieve the SDGs.
Turkmenistan participated in the ‘Central Asia + Japan’ Energy Dialogue
17.09.2025On 16 September this year, the Second Ministerial Dialogue on Economy and Energy in the ‘Central Asia + Japan’ format was held, chaired by the Minister of Economy, Trade and Industry of Japan. The event was held in a hybrid format with the participation of heads of relevant ministries of the fuel and energy sector of Central Asian countries. This was reported by the Ministry of Foreign Affairs of Turkmenistan. The key topics of discussion were the prospects for the development of energy cooperation, the transition to carbon neutrality, ensuring sustainable economic growth, and the introduction of advanced technologies in the fuel and energy complex. Following the meeting, the participants reached agreements on the development and implementation of joint projects in the field of renewable energy sources aimed at achieving carbon neutrality in the region. The parties also confirmed their intention to deepen the partnership between the countries of Central Asia and Japan in the energy sector.
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