Focusing on Innovation and Investment: Priorities for Turkmenistan's Partnership with Germany Outlined

Frankfurt am Main, October 30 | ORIENT. Deputy Chairman of the Cabinet of Ministers of Turkmenistan Nokerguly Atagulyev delivered a keynote address at the Turkmenistan Economy Days in Frankfurt am Main. His speech, addressed to representatives of leading German companies and business circles, not only summarized the implementation of the bilateral cooperation roadmap but also clearly outlined four fundamental conditions for investors and new promising areas for German technology.

A Foundation for Stability: An Invitation to High-Tech Partnership

At the beginning of his speech, Nokerguly Atagulyev expressed gratitude to the participants and emphasized the continuity of business contacts, recalling the business forum held in Berlin in September 2023, chaired by National Leader of the Turkmen People Gurbanguly Berdimuhamedov. He noted with satisfaction the high level of implementation of the measures envisaged by the Roadmap adopted at that time.

The Deputy Prime Minister clearly emphasized that the implementation of large-scale projects and socioeconomic reforms in Turkmenistan requires "...engineering ideas based on innovation and high technology, extensive technical experience, and expertise." Therefore, Atagulyev said, "We invite German companies with high technology to collaborate on the joint implementation of these projects."

To attract foreign capital, the Deputy Prime Minister listed four key conditions that ensure the attractiveness of the Turkmen market:

— Sociopolitical stability

— A strong resource base

— Stable and competitive energy prices on the domestic market

— A legal framework that provides a reliable guarantee for investment (including the Law on Foreign Investments).

New Tracks for Investment Cooperation

Nokerguly Atagulyev presented a comprehensive overview of investment opportunities, emphasizing economic diversification:

Turkmenistan's fuel and energy sector remains open to cooperation in developing promising blocks in the Turkmen sector of the Caspian Sea and developing the petrochemical industry. Particular mention was made of the strategic TAPI gas pipeline project, which will require new stages of development at the largest Galkynysh field.

Renewable Energy (RES)

It is emphasized that Turkmenistan has enormous renewable energy potential: 300 sunny days per year and 40% of its territory is suitable for wind energy generation.

A combined solar-wind power plant with a total capacity of 10 megawatts will soon be commissioned in the Balkan velayat.

Chemical and Textile Industries

In the chemical industry, where fertilizer production capacity has more than tripled, new highly profitable projects are planned: the production of iodine, bromine, caustic soda, and continuous basalt fiber.

In the textile industry, 70% of which output is exported, the Deputy Prime Minister invited German partners to collaborate directly to introduce high-tech equipment and bring environmentally friendly Turkmen products to the European market.

Transport and Logistics

Turkmenistan, located at the crossroads of North-South and East-West routes, places great importance on modernizing its infrastructure. Atagulyev emphasized the role of the Turkmenbashi International Seaport (capacity to handle 17 million tons of cargo annually) as a major transportation hub connecting Central Asia and Europe, and mentioned the new opportunities offered by the Balkan shipyard.

Urban Development and Healthcare

The construction of the city of Arkadag, which is being carried out in accordance with smart city standards and green technologies, was noted. In the healthcare sector, the role of German companies equipping modern medical facilities was emphasized, and interest was expressed in further developing cooperation, which serves as an example of effective Turkmen-German cooperation.

The Role of the Private Sector

In conclusion, the Deputy Prime Minister noted the important role of the Union of Industrialists and Entrepreneurs of Turkmenistan (which unites over 29,000 members) in the implementation of national projects. He mentioned 155 projects planned by the private sector as part of the Presidential Program until 2028, including the production of compound fertilizers, carbon black, and the expansion of electronics production.

Nokerguly Atagulyev expressed hope that the forum would serve as an effective platform for developing innovative ideas and elevating trade and economic relations with Germany "to a qualitatively new level," assuring that the Turkmen side would make every effort to achieve this.

The Days of Turkmenistan Economy in Frankfurt am Main, Germany, are taking place on October 30–31. The event is organized by the Chamber of Commerce and Industry of Turkmenistan with the assistance of TMT Consulting Group. The general sponsors of the forum are the leading Turkmen company "Ojar Aziya" and "John Deere".
 

 

Source of information: Orient