Economy
Deals worth over USD 1.3 million were concluded on the SCRMET of Turkmenistan
02.06.2025During last week, 23 deals totalling over 1 million 367 thousand US dollars and over 88 million 437 thousand manats were concluded at the State Commodity and Raw Materials Exchange of Turkmenistan. This is reported by the Internet publication ‘Turkmenistan: Golden age’. Foreign entrepreneurs from the United Arab Emirates and Afghanistan purchased batches of liquefied gas produced at the enterprises of the State Concern ‘Türkmenhimiýa’. Entrepreneurs from Turkey purchased purified cotton waste. Turkmen entrepreneurs actively purchased construction materials and oil products. Among the key items of domestic auctions are oil road bitumen, polypropylene, base oil from the State Concern ‘Türkmennebit’, as well as Portland cement, cotton yarn and textile waste.
Turkmenistan expands scale of geological research
31.05.2025The State Corporation ‘Türkmengeologiýa’ carries out a comprehensive study of the subsoil of Turkmenistan using geological and geophysical methods. The main directions of its activity are the search for deposits of oil, natural gas, solid minerals, construction materials and underground water, AsmanNews reported. According to the source, importance is attached to hydrogeological studies. Expeditions are operating in Ahal, Balkan, Dashoguz and Mary velayats of the country, carrying out surveys on various scales and observations of groundwater conditions, including quality, mineralisation and level of occurrence. In addition to the main activity, ‘Türkmengeologiýa’ performs contractual works ordered by the provincial governors and other organisations within the framework of implementation of the ‘National Program of the President of Turkmenistan for improvement of social and living conditions in villages, settlements, towns and district centres till 2028’. Thanks to the application of modern technologies such as SZMC-300, SZMC-200 and others, all conditions are created for increasing the efficiency of work in the country.
Turkmenistan actively develops digital banking services
30.05.2025The digital banking sector is actively developing in Turkmenistan. Credit institutions of the country have significantly expanded the list of online services, including ‘Internet-bank’, ‘Mobil-bank’, ‘Elektron söwda’, ‘Sanly töleg’, ‘Sanly karz’, ‘VISA Virtual’. The news was reported by the state news agency TDH. According to the source, these services allow customers to make cashless payments, manage accounts, apply for loans and bank cards online. The State Bank for Foreign Economic Affairs launched ‘Galkynyş’ payment system for transactions in national and foreign currencies. The bank also introduced ‘VISA Virtual’ card for secure online payments. Commercial Bank ‘Türkmenistan’ offers ‘Onlaýn kabulhana’ service through which customers can apply for banking services round the clock. The banks ‘Daýhanbank’, ‘Türkmenistan’ and ‘Halkbank’ provide digital services for payment of students' education abroad, medical expenses, as well as top-up of international cards ‘VISA’ and ‘MasterCard’. Mobile applications, such as ‘Sanly töleg’, ‘Halkbank-terminal’, ‘Senagat töleg’, which allow making contactless payments, are being actively introduced. In the first four months of the current year, the volume of non-cash payments through ‘Internet-bank’ and ‘Mobil-bank’ totalled more than 13.9 thousand manats, and the total volume of non-cash payments was 6.7 billion manats, which is 35% more than in the same period last year.
The first full-cycle copper cable manufacturing plant in Turkmenistan has started operations near Ashgabat
30.05.2025A unique copper cable factory for Turkmenistan has started up in the village of Onaldy in the Ahal region. The plant recycles scrap metal and old wires, turning them into high-quality cable products through three stages: crushing, cleaning and melting at temperatures above 1180°C. This was reported by IIC. The production capacity is 10 tonnes per day, with the prospect of increasing to 5,000 tonnes per year. The plant produces two types of cables: flexible (for mobile equipment) and rigid (for stationary facilities). All products meet strict quality standards, including 99% copper. The 10-hectare site houses modern workshops equipped with machinery from the Chinese company Ji Cheng Technology. The automated process is controlled from a central control panel, and each batch undergoes laboratory testing.
Turkmenistan expands trade and industrial co-operation with Belarus
29.05.2025As part of the XXIV International Multidisciplinary Exhibition ‘White City Ashgabat’, a business trip by Belarusian business representatives to Turkmenistan was successfully completed. Following negotiations organised by the Minsk branch of the Belarusian Chamber of Commerce and Industry and the Belarusian Embassy in Turkmenistan, with the support of Turkmen partners, contracts were signed for the supply of high-quality fresh vegetables and fruits produced in Turkmenistan, as well as polypropylene sleeves, to Belarus. This was reported by the IIC. During the visit of the Belarusian delegation, consisting of the heads of five enterprises, productive meetings were held at the Chamber of Commerce and Industry of Turkmenistan and the Union of Industrialists and Entrepreneurs of the country. Of particular interest was the possibility of organising the production of specific plastic products in Turkmenistan using Belarusian moulds, which could mark the beginning of industrial cooperation between the two countries. The business negotiations and exhibition clearly demonstrated the Turkmen side's sustained interest in Belarusian technologies and products, while opening up new prospects for increasing Turkmenistan's export potential. The visit by Belarusian entrepreneurs also included visits to the country's leading industrial enterprises, which allowed for a deeper exploration of opportunities for further expansion of mutually beneficial cooperation.
Entrepreneurs from Afghanistan and the UAE purchased liquefied gas on the Turkmenistan exchange
28.05.2025At the auction of the State Commodity and Raw Materials Exchange of Turkmenistan on 27 May, products of State Concerns ‘Türkmenhimiýa’ and ‘Türkmennebit’ were in high demand. This is reported by the website of the State Commodity and Raw Materials Exchange of Turkmenistan. According to the source, representatives of business circles from Afghanistan and the UAE bought liquefied gas from the State Concern ‘Türkmenhimiýa’. On the domestic market, Turkmen entrepreneurs concluded a deal with the State Concern ‘Türkmennebit’ for the purchase of road bitumen of ‘BND 60/90’ brand and cotton yarn. The total amount of 7 deals, which were concluded during the bidding, was about 18 million 919 thousand manat and more than 1 million US dollars.
‘Türkmengaz’ employees consistently supply consumers with natural gas
27.05.2025Employees of the ‘Lebapgazçykaryş’ department of the State Concern ‘Türkmengaz’ continue to demonstrate high production indicators as part of efforts to increase natural gas production and reliable supply of consumers. This is reported by the news website Asmannews. According to the department, more than 3 billion 207.5 million cubic metres of natural gas were produced from January to April, which is 101.4% of the planned volume. At the same time, more than 11.6 thousand tonnes of gas condensate were produced during the mentioned period, which is 109.6% of the plan. This valuable product was sent for processing to the Seydi Refinery. A significant part of the produced gas is exported to China. For this purpose, fuel is supplied to the Malay-Bagtyyarlyk high-pressure gas trunkline. In the first four months of the year, almost 1.8 billion cubic metres of marketable gas was transported through this route, which corresponds to 168% of the plan. This allowed not only to strengthen the country's export positions, but also to ensure consistent supply to the domestic market.
Turkmenbashi Oil Refinery Complex shows significant growth
27.05.2025Turkmenbashi complex of oil refineries, which is part of the State Concern ‘Türkmennebit’, has demonstrated high production results. This is reported by the Internet resource Asmannews. According to the source, the enterprise, equipped with advanced technologies, produces products of international level, providing both domestic market and export supplies. Specialists of the complex successfully refine oil and produce a wide range of products - from petrol, paraffin and diesel fuel to fuel oil, oils, polypropylene and liquefied gas. Continuous modernisation of production allows to increase refining volumes. During the reporting period, the Company refined about 1 million 497 thousand tonnes of crude oil - 104% of the planned volume. A number of items significantly exceeded the plan: bitumen - 181%, oils - 110%, liquefied gas - 120%, diesel fuel - 106% and others. Over 590 tonnes of raw materials were additionally processed over the plan. All products are labelled ‘Made in Turkmenistan’ and meet international quality requirements.
‘Synmaz Nesil’ presented new technological solutions at the exhibition in Ashgabat
27.05.2025Private company ‘Synmaz Nesil’, known for its products for the construction sector, presented new technological solutions at the XXIV International Exhibition ‘White City Ashgabat’, highlighting its contribution to the modernisation of the capital of Turkmenistan. This was reported by the online edition of ‘Business Turkmenistan’. Since 2025, the company has entered a new stage of development by launching the production of copper electrical cable. ‘Synmaz Nesil’ became the first in the country to set up the production of cable products using recycled raw materials. All production processes are carried out under strict quality control, in compliance with industrial safety, environmental and fire safety regulations. Copper cable is produced under the brand name ‘Nesil’ and complies with national standards. The products are intended both for the domestic market and for export, which fits into the strategy of import substitution and expansion of foreign economic relations. The company was founded on 18 March 2014 and initially specialised in the production of scaffolding and waterproofing materials under the ‘Izogam’ brand.
The results of the International Conference ‘White City Ashgabat’ have been summed up
27.05.2025Turkmenistan summed up the results of the XXIV International Conference ‘White City Ashgabat’, which brought together leading experts and representatives of international companies to discuss the prospects of development of the Turkmen capital. It is reported by the Internet publication ‘Turkmenistan: Golden age’. The forum became a platform for sharing experience in introducing innovative technologies in construction, transport and urban infrastructure. Special attention was paid to digital solutions, artificial intelligence and ‘smart’ systems that can improve the efficiency of urban management. The Ministry of Construction and Architecture of Turkmenistan presented successful projects in the field of clean energy, green transport and sustainable urban environment. The participants noted the country's significant achievements in the development of road infrastructure, including the construction of international highways and bridges that strengthen Turkmenistan's position as an important logistics hub in the region. Major foreign companies expressed interest in the development of Ashgabat. CNTIC (China) and Daewoo E&C (South Korea) are ready to cooperate in the construction of industrial facilities and transport infrastructure. The Asian Development Bank will support projects in energy efficiency and renewable energy. The conference confirmed Turkmenistan's aspiration to create a ‘smart’ environmentally friendly city where technologies serve to improve the quality of life. The joint efforts of the state, business and international partners open new prospects for the establishment of a smart, environmentally friendly city in Turkmenistan.
Singaporean businessmen purchased urea at Turkmenistan’s State Commodity and Raw Materials Exchange
26.05.2025At the auction of the State Commodity and Raw Materials Exchange of Turkmenistan on 24 May, representatives of business circles from Singapore purchased urea B grade from the State Concern ‘Turkmenhimiya’. It is reported by the website of the State Commodity and Raw Materials Exchange of Turkmenistan. According to the source, in the domestic market, the Turkmen businessmen concluded a deal with the Ministry of Textile Industry for the purchase of cotton fabric and various cotton waste. The total amount of 3 deals concluded during the bidding was more than 800 thousand manat and 289 million USD.
Turkmenistan and South Korea signed contract to build new fertilizer plant
26.05.2025The state concern ‘Türkmenhimiýa’ has made an important step in the development of the country's chemical industry by signing a large-scale contract with the South Korean company ‘Daewoo Engineering & Construction Co., Ltd’. The agreement provides for the design and construction of a modern production complex to produce mineral fertilisers on the basis of Turkmenabat Chemical Plant. This project will significantly increase the production capacity of the enterprise and expand the range of products. It is reported by IIC. The agreement demonstrates active development of Turkmenistan's international partnership in one of the key sectors of the economy. The project of the chemical complex in Turkmenabat is especially important for the agricultural sector of the country, as it will provide Turkmenistan's agrarians with quality fertilizers of local production. The concluded contract became another evidence of successful implementation of Turkmenistan's strategy to attract advanced foreign technologies and experience for the development of the national industry. It is expected that the implementation of the construction project will make a significant contribution to the economic development of the country.
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