Transport diplomacy: potential and prospects

Turkmenistan, which takes an exceptionally favourable geographical position, is confidently strengthening its position as an important transport and transit hub and logistics centre of regional and continental importance, striving to realise its impressive potential for the common benefit. By expanding transport flows from Asia to Europe and back, the country is successfully integrating its national economy into the global economic space. Turkmenistan, located at the intersection of the main East–West and North–South trade routes, is a strategic crossroads between Asia and Europe. The Eurasian continent has historically been a natural space of close and multifaceted interaction, in which dozens of peoples and states have been involved. For centuries, economic and commercial ties have been actively developing among them, trade routes have arisen and mastered. This process has always carried a huge civilisational function, ensuring the interpenetration of cultures and traditions, helping better perceive and understand each other.

The power of national economy

On the 11th of February of this year named the «Era of the People with Arkadag» the «Revival of the new Era of the Powerful State: the National Program of developing the social-economic trends of Turkmenistan in the years of 2022-2052» adopted at the session of Halk Maslahaty of the National Gengesh of Turkmenistan which was held in the Maslahat Palace of our capital. Of course, increasing the energy power of our country is one of the main tasks, planned in the National Program. In his speeches our Esteemed President calling attention to developing fuel-energy complex, the formation of innovational productions on processing the hydro-carbon means, underlined the great importance of formation of multilateral system of widening the export opportunities by diversification and also of exporting energy means. In Turkmenistan, which is one of the main states of large energy resources, the fruitful works are realized on reliable transit of energy resources and securing sustainable development and safety on the initiatives and proposals of our Neutral state under the patronage of the UNO and our country has a great international authority. The adoption of Resolutions «On Reliable Transit of Energy Resources and its Significance on securing Sustainable Development and International Co-operation» in 2008 and 2013 shows vividly this truth. The recognition of our Neutral Motherland a

Turk­me­nis­tan in the world in­for­ma­tion space

Expo 2020 sets new Guinness World Record

     Another world record that deserves inscribing on the Guinness World Records has been set at the World Exhibition in Dubai. According to russianemirates.com, Dubai Police in collaboration with Expo 2020 Dubai has created the largest chain of people wearing a badge.  265 people of 193 nationalities thanked Expo 2020 Dubai and passed the badge with the Expo 2020 symbols to each other in the three-minute video. The video, which was made during 48 hours, features 192 Country Pavilions. This action was recorded on the Guinness World Records as the largest online video chain of people wearing a badge

Integrated Development of the Velayats is the Basis for the Prosperity of the Homeland

A Working Trip of President Gurbanguly Berdimuhamedov President Gurbanguly ­Berdimuhamedov made a working trip to the Balkan velayat, where he visited the Uzynada oil and gas field and conducted a meeting on the further development of the oil and gas industry and on the development and realisation of the country’s rich resource potential.

Turkmenistan in the third decade of the 21st century:

Formula of Success With regard to the history of the country, each year is another milestone in the development of the society and state. The historical chronicle of independent neutral Turkmenistan will preserve the events of 2021, which became significant along the path to achieving sustainable socioeconomic development and strengthening the authority of Turkmenistan in the world community.

Ashgabat hosts 15th economic cooperation organization summit

«Türkmenistan Sport», № 4, 2021 On November 28, on the day of the foundation of the Economic Cooperation Organization (ECO), the 15th Summit of the ECO Member States chaired by President of Turkmenistan Gurbanguly Berdimuhamedov took place.

Service Sector: Innovative Approach and Advanced Solutions

In the modern history of the Turkmen people, grandiose reforms, aimed at improving the welfare of citizens of the country through the fruitful development of the major sectors of the economy and the progressive growth of the service sector, are being implemented under the wise, far-sighted and progressive leadership of President Gurbanguly Berdimuhamedov. The prospects for the comprehensive rapid development of the national economy are reflected in the Socioeconomic Programme of the President of Turkmenistan for 2019–2025. The Programme pays special attention to this sector, which is one of the most promising and takes a significant place in the modern economies of the world.

Course on the sustainable development of national economy

In accordance with the deeply thought-out economic policy of our respected President Gurbanguly Berdimuhamedov, large-scale work, aimed at ensuring sustainable economic growth, diversifying the national economy, developing market relations, raising the competitiveness of domestic producers, increasing welfare and improving the social and living conditions of the country’s population, is being carried out in the country. In order to maintain the high rates of socioeconomic development, the Government is taking targeted measures to reduce the impact of the difficult situation in the world economy on the economy of Turkmenistan. Thus, in July 2020, the National Programme on the Reduction of the Impact of Difficult Circumstances in the World Economy on the Economy of the Country and the Sustainable Development of the National Economy for 2020–2021, being of great importance in the implementation of the tasks defined in the Programme of the President of Turkmenistan on the socioeconomic development of the country for 2019–2025 and in the strengthening of the economic potential of the state as a whole, was adopted.

The banking sector – prospective projects and innovative solutions

In the modern history of the Turkmen people, under the wise, far-sighted and progressive leadership of President Gurbanguly Berdimuhamedov, large-scale reforms, aimed at strengthening financial stability through improving the activities of the banking sector based on a scientific approach and the best practices of first-class foreign banks, are carried out in the country. In this regard, the key importance is attached to the successful implementation of the State Programme of the Development of the Banking System of Turkmenistan for 2011–2030. Today, banks are one of the main financial intermediaries in the country’s economy. By carefully distributing financial flows among different segments of the economy, banks have a tremendous impact on the planned development of economic sectors. Accordingly, the progressive development of the entire economic system with all its connections and interdependencies depends on how stably and efficiently their activities will be organised. In this context, in order to ensure innovative activity in the process of modernising the Turkmen economy, particular importance is attached to expanding lending to the real sector of the economy, especially in the field of investment lending, which, in turn, is accompanied by the modernisation of both the entire financial sector and its most important part – the banking system of Turkmenistan.

Digitalisation – the Major Trend of Global and National Development

Independent neutral Turkmenistan that has an impressive resource and economic potential continues to move forward confidently under the leadership of President Gurbanguly Berdimuhamedov along the path of progressive innovative development. Today, one of the key priorities is the transition of the national economy and all its sectors to a digital platform as an integral factor in further modernising the national economy and increasing its efficiency. For this purpose, Turkmenistan is implementing the Digital Economy Conception for 2019–2025 and the State Digital Economy Programme for 2021–2025. The Turkmen leader notes the transition to a digital platform is one of the key vectors of the state policy. Its main aim is to create an effective management system capable of meeting the needs of the economy and modern society.

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!”