Economy
Fitch Ratings has given a consistent outlook for Turkmenistan's credit rating
26.08.2025One of the leading international rating agencies, Fitch Ratings, has affirmed Turkmenistan's foreign currency credit rating at ‘BB-’ with a consistent outlook. This was reported by the online publication Business Turkmenistan. In justifying their decision, the agency's analysts noted the country's strong sovereign balance sheet compared to other countries in the ‘BB’ and ‘B’ rating categories. Experts emphasised that Turkmenistan has a high ratio of net foreign assets to GDP and a low level of public debt. An important factor in the stability of the economy is the country's vast natural gas reserves. According to analysts' forecasts, by 2027, Turkmenistan's net foreign assets will reach 50.8% of GDP. The country's foreign exchange reserves are recognised as among the highest in the Central Asian region, covering more than 52 months of external payments. Natural gas continues to dominate exports, accounting for 67% of total exports to foreign countries in 2024. A significant portion of gas exports (88%) was directed to the Chinese market. Negotiation is currently underway on the construction of a fourth branch of the gas pipeline to China.
Turkmenistan may become a supplier of ferries to Uzbekistan
26.08.2025Uzbekistan is considering purchasing ferries from a Turkmen shipyard, according to Uzbekistan's Minister of Transport Ilhom Mahkamov, as reported by the Orient news agency. According to the Minister, having its own fleet will help speed up cargo transportation across the Caspian Sea, where delays currently reach 30-40 days. I. Mahkamov emphasised the importance of Turkmenistan and Azerbaijan for the development of the Middle Corridor, where they provide transportation across the Caspian Sea due to their port infrastructure. At the trilateral summit of Turkmenistan, Uzbekistan and Azerbaijan, a Memorandum of Cooperation in the transport and logistics sector was signed, including the creation of joint ventures and privileges for cargo transportation. A Memorandum of Cooperation in shipbuilding was also signed in Ashgabat between Ilhom Mahkamov and Deputy Chairman of the Cabinet of Ministers of Turkmenistan Mammethan Chakiyev. Uzbekistan intends to use ferries to increase transport volumes across the Caspian Sea. In addition, the parties agreed to develop cooperation in the field of civil aviation: a Protocol was signed on the launch of direct flights between the two countries.
Turkmenistan's attractions have become part of a new international tourist circle
25.08.2025A cross-border tourist route connecting Turkmenistan, Khorezm, Karakalpakstan and Kazakhstan has been launched in Central Asia. This circular route includes visits to unique cultural, historical and natural attractions in the four regions, offering travellers new opportunities for educational travel. This was reported by IIC. The route was developed in accordance with the Decree of the President of Uzbekistan on measures to develop tourism in 2025–2026. The Tourism Committee, together with private partners, paid special attention to creating convenient logistics and a diverse programme. Travellers are offered various types of tourism, including gastronomic tourism with tasting of national dishes, ecotourism with an introduction to natural landscapes, ethnographic tourism with immersion in traditions and crafts, as well as pilgrimage tourism with visits to holy sites. There are over 15 UNESCO World Heritage Sites and monuments of national importance along the route. Key points include ancient Merv and Kunya-Urgench in Turkmenistan, Ichan-Kala in Khorezm, museums and fortresses in Karakalpakstan, and the picturesque landscapes of Mangistau in Kazakhstan. The new tourism product aims to develop cultural and humanitarian exchanges between countries in the region and is designed to become an attractive destination for various categories of travellers.
Delegation from Turkmenistan participates in World Women Entrepreneurs Forum
25.08.2025The World Women Entrepreneurs Forum (WWEF) is being held in the Mongolian capital Ulaanbaatar on 25-26 August under the patronage of Mongolian President Ukhnaagiin Khurelsukh. The event brought together more than 200 participants from 25 countries, including a delegation from Turkmenistan, which included well-known representatives of women's entrepreneurship in the country. This was reported by IIC. The Turkmen delegation is represented by the founder and director of the private enterprise ‘Mähirli zenan’ Ayna Durdylyeva, the head of the shoe production “Gerçek” Ayhan Rejepova, as well as the designer and director of the private enterprise ‘Jennet tagty’ Jennet Agayeva. All members of the delegation are active participants in the Union of Women of Turkmenistan, one of the country's largest public organisations, which plays an important role in the implementation of reforms initiated by the National Leader of the Turkmen people, Gurbanguly Berdimuhamedov, and continued by the President of Turkmenistan, Serdar Berdimuhamedov. The forum is being held under the slogan ‘Inspire – Impact – Invest,’ focusing on expanding women's participation in the economy, investment and digital transformation of business. The programme includes panel discussions, seminars, B2B meetings and an exhibition-fair of products made by women entrepreneurs, with the participation of more than 140 small and medium-sized companies.
Turkmenistan invited to Telecom International Asia-2025
25.08.2025Telecom International Asia-2025 (ITCN Asia) is the largest technology event in the region, which will take place from 23 to 25 September in Karachi (Pakistan). This was reported by the news website Asmannews. The event is organised by Ecommerce Gateway Pakistan (Pvt.) Ltd. The event will bring together leading IT companies, start-ups and representatives of the public and private sectors. The venue will showcase solutions in the fields of public services, cloud technologies, cyber security, data centres, ERP systems, education, finance, healthcare, pharmaceuticals, e-commerce and artificial intelligence. The programme includes an exhibition, conferences and specialised sessions for exchanging experiences, networking and finding business partners. ITCN Asia is considered Pakistan's largest technology platform with annual international participation.
Construction of an iodine plant is planned in Turkmenistan
25.08.2025In Turkmenistan, there are plans to build a plant for the production of iodine, bromine and bromine-containing products based on the West Cheleken deposit (Hazar site) with the modernisation of the raw material base of the Balkanabat iodine plant. This was reported by the news website Turkmenportal. The State-owned Concern ‘Türkmenhimiýa’ has announced an international tender for the design and construction of the plant. To participate, it is required to submit a written application with the name of company, legal status, country of registration and details, and buy a set of tender documents. Proposals will be accepted within 30 working days from the date of publication of the announcement after confirmation of payment.
The ‘Kids Expo: Everything for Children’ exhibition was held in Ashgabat
25.08.2025The International Exhibition and Fair ‘Kids Expo: Everything for Children’ was held in Ashgabat, organised by TurkmenExpo and the Chamber of Commerce and Industry of Turkmenistan. This was reported by the IIC of Turkmenistan. Over the course of three days, leading brands presented their products and services, and guests noted the high level of organisation and diversity of the exhibits. According to the results of the traditional SMS vote for the best pavilion, the winner was the ‘Balam’ brand, with ‘Nestlé’ taking second place. The final day of the exhibition included concerts for children, performances by entertainers and a robot competition. The exhibition reinforced its status as one of the region's major events in the field of children's goods and services, leaving visitors with many vivid impressions.
The TIF-2025 investment forum will look at the prospects for the Trans-Caspian route
24.08.2025The upcoming TIF-2025 International Investment Forum in Turkmenistan, which will take place on 18–19 September, will be largely devoted to the prospects for the development of the Trans-Caspian International Transport Route (TITR). This was reported by IIC. The multimodal corridor, which combines rail, sea and road transport, serves as a key link between Central Asia and Europe. Turkmenistan plays a central role in this project, actively modernising port facilities in Turkmenbashi and introducing digital solutions to simplify trade procedures. The TIF-2025 forum plans to discuss a wide range of investment opportunities and cooperation projects aimed at developing the TITR infrastructure, introducing advanced technologies in logistics and forming sustainable supply chains. It is expected that the further development of this route will contribute to strengthening regional integration, stimulating economic growth and opening up new prospects for international investors.
‘Goturdepenebit’ specialists extracted over 680,300 tonnes of oil
23.08.2025Oil production at the ‘Goturdepenebit’ oil and gas production department since the beginning of 2025 amounted to 680,390 tonnes. This was reported by the news website Turkmenportal. At the same time, 49,864 tonnes were produced in excess of the planned target. The enterprise, located in the Balkan velayat and part of the ‘Türkmennebit’ State Concern, fulfilled its production plan by 107.91%. As noted, the management continues to actively cooperate with foreign companies and service divisions of the State Concern, implementing large-scale projects for the industrial development of underground oil fields.
‘Goturdepenebit’ specialists extracted over 680,300 tonnes of oil
23.08.2025Oil production at the ‘Goturdepenebit’ oil and gas production department since the beginning of 2025 amounted to 680,390 tonnes. This was reported by the news website Turkmenportal. At the same time, 49,864 tonnes were produced in excess of the planned target. The enterprise, located in the Balkan velayat and part of the ‘Türkmennebit’ State Concern, fulfilled its production plan by 107.91%. As noted, the management continues to actively cooperate with foreign companies and service divisions of the State Concern, implementing large-scale projects for the industrial development of underground oil fields.
Turkmenistan and Mari El discussed issues of trade and economic partnership
22.08.2025The Consul General of Turkmenistan in the Russian Federation (Kazan), Guych Garayev, met with the management of export companies in Mari El to discuss trade and economic cooperation with Turkmen partners. This was reported by the news website Turkmenportal. Representatives of the companies ‘Rosholod’, ‘Intercold’ and ‘Kazanskoe’ took part in the negotiation. The main focus was on establishing business ties with companies in Turkmenistan. Mari El is a federal subject of the Russian Federation in the Volga Federal District, with Yoshkar-Ola as its capital. The region borders the Nizhny Novgorod and Kirov regions, Chuvashia and Tatarstan.
Turkmen electricity to make up large share of Iran's energy system
21.08.2025Iran plans to increase electricity imports from Turkmenistan. This decision was made at a meeting attended by Iranian Energy Minister Abbas Aliabadi and Director General of the state energy company ‘Tavanir’, Mostafa Rajabi Mashhadi. This was reported by the IIC of Turkmenistan. ‘Tavanir’s Department of Transmission and Foreign Trade has been instructed to work out the technical and commercial details for increasing supplies. This step is aimed at strengthening energy security and diversifying sources of electricity supply. The new negotiation continues earlier agreements between the countries, including the participation of Iranian companies in the construction of the Mary-Mashhad power line, which should increase the transmission capacity of the power systems of both countries.
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