Economy
EBRD highlights high export potential of Turkmen companies
31.07.2025Private business in Turkmenistan has advantages due to cheap energy resources and an affordable workforce. This was stated by Eric Livny, Head of the European Bank for Reconstruction and Development (EBRD) in Turkmenistan, in an interview with Trend agency, according to the news website Asmannews. According to him, state support provides entrepreneurs with preferential access to electricity, water and land, which contributes to the development of import substitution and export-oriented industries. The plastic packaging, construction materials and greenhouse products industries are developing particularly actively. Successful projects include ‘Tudana’, which supplies strawberries to the Uzbek chain ‘Korzinka’, and ‘Miwe’, an agricultural company that grows bananas in a 100-hectare greenhouse. The EBRD intends to expand its cooperation with Turkmen banks, including support for foreign economic operations and lending to small and medium-sized businesses.
Afghanistan and Uzbekistan conclude foreign trade deals on Turkmenistan's stock exchange
31.07.2025On 30 July, during foreign trade auctions at the State Commodity and Raw Materials Exchange of Turkmenistan, two deals were made for a total of 172,420 US dollars. This was reported by the press service of the SCRMET. Entrepreneurs from Afghanistan purchased a batch of liquefied gas from the State Concern ‘Türkmenhimiýa’. At the same time, business representatives from Uzbekistan signed a contract for the purchase of gas concrete blocks from Turkmen private manufacturers. Both deals reflect the intensification of regional economic cooperation and growing interest in Turkmen products.
Railway route between Mashhad and Mary to start operating
30.07.2025Iran is preparing to launch three new international railway routes. The first will be a passenger service between the cities of Mashhad and Mary, according to IIC Turkmenistan. The route is expected to strengthen ties with Central Asia and may be extended to Uzbekistan and Tajikistan in the future. There are also plans to open a Tehran-Ankara route, which will be an extension of the Tehran-Van route. The parties are agreeing on fares, and the launch is expected within two months. The third route will be through Rozanak to Herat in Afghanistan. Construction of the last section is nearing completion, and traffic may begin once border formalities have been settled. The project is part of Iran's strategy to strengthen regional integration and develop transit potential.
‘Türkmennebit’ State Concern exceeded oil production plan due to well repairs
30.07.2025Since the beginning of 2025, divisions of the ‘Nebitgazdüýpliabatlaýyş’ trust of the ‘Türkmennebit’ State Concern have produced an additional 81,830 tonnes of oil due to the overhaul of wells at the Goturdepe, Barsagelmez and Gamyshlyja, according to the online newspaper ‘Nebit-gaz’. This result amounted to 141% of the plan for the first half of the year. The Gamyshlyja well overhaul department stands out in particular, exceeding the plan by more than 24,000 tonnes, repairing 32 wells, 24 of which have been put into operation. A total of 217 wells were overhauled during the period, compared to the target of 199. The work was carried out using the trust's motor transport and specialised management equipment. The restoration of low-yield and shut-in wells is an effective way to increase production. The Balkan velayat remains the country's main oil-producing region.
A meeting of creative entrepreneurs was held in Ashgabat as part of the Go Viral project
30.07.2025The ‘Arkach’ Business Centre hosted another meeting as part of the regional Go Viral project, which brings together young entrepreneurs, start-ups and creative professionals from Central Asian countries. The Go Night event provided Turkmen innovators with a platform to exchange ideas and seek unconventional solutions in the fields of technology, media and business. This was reported by the online publication ‘Turkmenistan: Golden age’. Participants discussed how traditional cultural elements can be transformed into modern business models with the help of digital technologies. Presentations on the relationship between ethnic heritage and innovative start-ups were of particular interest. After the official part, a lively discussion and networking session took place, where participants were able to establish business contacts and discuss potential collaborations. The Go Viral project continues to strengthen regional cooperation by offering young professionals in Central Asia opportunities for professional growth and the implementation of socially significant initiatives. The next community meeting is scheduled for August 2025.
Turkmenistan and Japan held a business forum in Osaka
29.07.2025On 25 July, the Turkmen-Japanese Business Forum was held at the National Pavilion of Turkmenistan at EXPO 2025 in Osaka, aimed at strengthening economic ties between the two countries. This was reported by the online publication ‘Business Turkmenistan’. Participants discussed cooperation in the fields of high technology, the digital economy, energy and transport. The parties exchanged initiatives to create conditions for Japanese companies to enter the Turkmen market and jointly implement innovations. The forum contributes to the development of economic ties in the Central Asian region.
Entrepreneurs from Turkmenistan have concluded a deal with Kyrgyz partners
29.07.2025On 28 July, Kyrgyz entrepreneurs in the foreign market concluded a deal with Turkmen business partners for the purchase of jeans. This was reported by the press service of the SCRMET. As a result of the tender, one deal was concluded for a total amount of 1.479 million US dollars.
Seydi Oil Refinery increases production rates
29.07.2025Employees at the Seydi Oil Refinery are demonstrating high production results: the volume of raw materials processed increased by 22% compared to the same period last year and amounted to almost 270,000 tonnes. This was reported by the news website Asmannews. The plant produces petroleum products in high demand, such as gasoline, diesel fuel, bitumen and others. More than 1,800 specialists contribute to the consistent operation of the plant. Great attention is paid to social issues: employees receive support for health, recreation and housing. A new residential building for plant workers is being built in the city of Seydi, which will house 24 families.
Turkmen seaport specialists upgraded their qualifications in Malaysia
29.07.2025Specialists from the International Sea Port of Turkmenbashi took part in the ‘Regional Maritime Capacity Enhancement’ programme, held from 21 to 25 July in Malaysia. The event, organised by the Port of Klang with the support of the country's Ministry of Transport, brought together representatives from 15 countries in Central and South Asia, as well as ASEAN countries. This was reported by the online publication ‘Turkmenistan: Golden age’. During the programme, Turkmen participants deepened their knowledge of port management, studied advanced methods of cargo operations and modern approaches to logistics planning. Particular attention was paid to the exchange of experience with colleagues from the Port of Klang, which is one of the ten most developed container terminals in the world. This participation contributes to the further improvement of the professional competencies of Turkmen specialists and the strengthening of international cooperation in the maritime industry, which is in line with the strategic objectives of developing Turkmenistan's transport and logistics potential.
Deals worth over $96.5 million were concluded at the SCRMET
29.07.2025Last week, 19 deals were concluded at the State Commodity and Raw Materials Exchange of Turkmenistan. Foreign entrepreneurs from the UAE, Turkey and Afghanistan purchased liquefied gas and urea produced by the State Concern ‘Türkmenhimiýa’. This was reported by the online publication ‘Turkmenistan: Golden age’. Companies from Turkey, Kyrgyzstan, Armenia and other countries purchased textile products, including terry products, cotton yarn and fabrics, as well as purified cotton waste and cotton fibre. The total value of export contracts exceeded $96.5 million. On the domestic market, Turkmen businessmen purchased polypropylene, base oil, mixed paraffin wax (State Concern ‘Türkmennebit’), as well as float glass and cotton yarn. The total value of transactions in national currency amounted to 87.1 million manats.
International conference in Turkmenistan will serve as catalyst for creating new transport opportunities
28.07.2025In early August, the Turkmen coast of the Caspian Sea will host the Third UN Conference on Landlocked Developing Countries. This large-scale event, initiated by Turkmenistan and supported by 57 countries, confirms the country's growing role in global processes. This was reported by the online publication ‘Turkmenistan: Golden age’. Preparations for the forum are being made at the highest level. President Serdar Berdimuhamedov signed a special decree confirming the organisational aspects of the conference. More than 30 Heads of State and Government, as well as Heads of relevant UN agencies and international organisations, will gather in Avaza. The five-day forum will focus on strategic issues related to the development of transport corridors, deepening regional integration and developing effective macroeconomic models. Experts predict that the conference will not only strengthen multilateral cooperation, but also propose innovative approaches to overcoming geographical constraints.
Turkmenistan has concluded export deals with Afghanistan, Turkey and Hong Kong
27.07.2025On 26 July, seven deals worth a total of 44.496 million manat and 636,538 thousand US dollars were concluded at the State Commodity and Raw Materials Exchange of Turkmenistan. This was reported by the press service of the SCRMET. On the foreign market, entrepreneurs from Afghanistan signed a contract with the State Concern ‘Türkmenhimiýa’ for the purchase of liquefied gas. In addition, businessmen from Turkey and Hong Kong concluded agreements with local companies for the purchase of cotton yarn and textile waste. On the domestic market, Turkmen entrepreneurs concluded deals with the State Concern ‘Türkmennebit’ for the purchase of polypropylene grade TPP D 30 S, base oil SN-180 and paraffin wax.
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