Home NEWS Turkmen private businesses prepare investment projects in Caspian Sea

Turkmen private businesses prepare investment projects in Caspian Sea

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The Union of Industrialists and Entrepreneurs of Turkmenistan (UIET) is preparing proposals for expanding trade and economic cooperation and implementation of investment projects in the Caspian Sea, including in the transport and logistics sector, Trend reports referring to the UIET.

It is expected that business negotiations will take place on the sidelines of the 1st Caspian Economic Forum, scheduled to be held on August 12, 2019 in the Caspian resort town of Awaza.

The UIET intends to use the negotiation platform to develop new effective forms of interaction at the level of business structures, including making specific decisions to eliminate tax, customs and other barriers for a fruitful, mutually beneficial partnership.

The UIET unites more than 20,000 businessmen, which, according to local regulations, are allowed to create joint ventures with foreign partners by attracting their investments.

About 600 enterprises operate in various spheres of the Turkmen industry, including the production of building materials, textiles and carpets, chemicals, metal products, furniture, earthenware, and glass products, as well as polyethylene and plastic products that are in demand in the domestic and foreign markets.

This year it is planned to transform the spheres of transport and communication into joint-stock companies.

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