Some $14bn has been allocated to Turkmenistan's transport and communications industry between 2015 and 2021, Deputy Director General of the Turkmenistan Transport and Communications Agency Batyr Annaev was quoted as saying by Business Turkmenistan.
The Turkmen delegation took part in the opening of the Global Gateway Investors Forum dedicated to sustainable transport links between Europe and Central Asia.
"In recent years, Turkmenistan has been actively investing in the development of sectoral infrastructure, including railways, roads, air and sea routes."
The list includes upgrading 5,000 km of railways between the country's regions, operating an international seaport in Turkmenbashi capable of handling 25mn tonnes of cargo per year, improving airports to handle up to 3,800 passengers per hour, and building highways on the Ashgabat-Tedjen and Ashgabat-Turkmenabat routes.
According to Annayev, "foreign investors in Turkmenistan have the same rights as local investors, including ownership and management of companies, participation in privatisation, access to government procurement and other privileges".
The majority of total financial flows come from state budget revenues (36.2%), followed by private investment (34%) and loans from the banking sector (16.5%).
The International Road Transport Union (IRU) has previously noted that Turkmenistan has made significant progress and is gaining international recognition as a regional transit hub.
These corridors include the revitalised Silk Road, the North-South International Transport Corridor (ITC), the Trans-Caspian International Transport Route, the Lapis Lazuli Corridor, the Ashgabat Agreement Transport Project (Kazakhstan, Uzbekistan, Turkmenistan, Iran, India, Pakistan and Oman) and the TRACECA routes.
Eziz Boyarov
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