Economy
Progress in construction and energy to be presented in Turkmenistan
03.11.2025On 3 November, the ‘Avaza’ National Tourist Zone will host the CIET 2025 International Conference and Exhibition dedicated to the development of Turkmenistan's construction, industrial, chemical and energy sectors. The forum will bring together leaders from key industries from 55 countries, according to IIC. The event will be held under the motto ‘Smart Construction. Clean Energy. Resilient Future’ and will bring together more than 1,080 delegates, including ministers, heads of global corporations, investors and representatives of international organisations. CIET 2025 is timed to coincide with Construction and Industry Workers' Day and includes a number of significant industrial ceremonies: the opening of the bridge across the Garabogaz Bay, the laying of the Turkmenbashi-Garabogaz-Kazakhstan border road, the construction of a urea complex with a capacity of 1.155 million tonnes per year, and the commissioning of a new water treatment plant in the Esenguly etrap. During the two days of the forum, there will be plenary and thematic sessions, B2B and B2G meetings, as well as an international exhibition with the participation of more than 50 companies. Speakers will include representatives from Mitsubishi Heavy Industries, Çalık Holding, Rönesans Holding, China Energy International Group, ROSATOM and others. Their participation underscores the growing interest of Eurasian and Middle Eastern countries in the forum.
CIET 2025: Turkmenistan to showcase investment potential
03.11.2025The ‘Avaza’ National Tourist Zone hosted a pre-conference day for the CIET 2025 International Conference and Exhibition, dedicated to the development of the construction, industrial, chemical and energy sectors in Turkmenistan. This was reported by the IIC. The main events of the forum are scheduled for 3–4 November. During the pre-conference day, guests registered, checked in and were accredited. Delegates from government agencies, international organisations and leading companies from Turkmenistan and abroad arrived in Avaza. The CIET 2025 programme includes plenary and thematic sessions, business negotiation, B2G and B2B meetings, an exhibition and cultural events. The forum aims to develop international cooperation and demonstrate the country's investment potential.
The foundation stone for a new urea plant has been laid in Turkmenistan
03.11.2025The foundation stone for a new urea plant has been laid in Guwlymayak, Turkmenbashi (Balkan velayat), according to the news website Turkmenportal. The plant's design capacity is 1.155 million tonnes of mineral fertilisers per year. The plant is being built by Japanese company ‘Mitsubishi’ in partnership with Turkish company ‘Gap İnşaat’ on behalf of ‘Türkmenhimiýa’ State Concern. The urea will be exported, reducing dependence on imports. The western region was chosen due to its proximity to raw materials and natural gas production on the Caspian Sea coast. The construction will create new jobs, which will improve the welfare of the local population.
Turkmenistan's construction and industrial complex exceeded its target for 10 months
02.11.2025On 31 October, Deputy Chairman of the Cabinet of Ministers of Turkmenistan Baymyrat Annamammedov reported on the work of the construction and industrial complex for January–October of this year during a meeting of the Cabinet of Ministers. This was reported by the state news agency TDH. Overall, the production and work plan were fulfilled by 104.1%. By ministry, the figures were as follows: construction and architecture – 113.8%, industry and construction production – 106.2%, energy – 109.7%, State Concern ‘Türkmenhimiýa’ – 100.1%. The State Agency for Road Construction fulfilled the plan by 103.4%, and the work of the Ashgabat city administration is estimated at 109 million manats. After hearing the report, President of Turkmenistan Serdar Berdimuhamedov noted the need to increase the efficiency of the complex's enterprises and develop electricity production, and instructed the Deputy Prime Minister to keep the activities of the State Concern ‘Türkmenhimiýa’ under control.
Turkmenistan demonstrates growth in oil and gas production over ten months
02.11.2025On 31 October, Deputy Chairman of the Cabinet of Ministers of Turkmenistan Batyr Amanov presented a report on the results of work carried out in January–October to increase oil and gas production and expand export routes during a meeting of the Cabinet of Ministers. This was reported by the state news agency TDH. The State Concern ‘Türkmennebit’ exceeded its oil production plan by 109.3%. The oil refining plan was fulfilled by 108.6%, gasoline production by 107.5%, diesel fuel by 100.7%, and natural and associated gas production by 101.8%. Indicators for the production of polypropylene, lubricating oils, liquefied gas and natural gas exports were also announced. After hearing the report, President of Turkmenistan Serdar Berdimuhamedov emphasised the need to increase the efficiency of production capacity utilisation and instructed the Deputy Prime Minister to keep geological exploration and drilling operations under control.
Financial plans for next year presented in Turkmenistan
02.11.2025On 31 October, during a meeting of the Cabinet of Ministers, Deputy Chairman of the Cabinet of Ministers of Turkmenistan Hojamyrat Geldimyradov congratulated President of Turkmenistan Serdar Berdimuhamedov and National Leader of the Turkmen people, Chairman of the Halk Maslahaty of Turkmenistan Gurbanguly Berdimuhamedov, on the 32nd anniversary of the introduction of the manat, wishing them health, longevity and success in their work for the benefit of the country. This was reported by the news website Asmannews. The Deputy Prime Minister presented a report on macroeconomic indicators for January-October 2025. During this period, GDP growth amounted to 6.3%, including: industry – 1.7%, construction – 8.1%, transport and communications – 10.4%, trade – 9.7%, agriculture – 5.2%, services – 8.3%. Production volume grew by 10.1%, retail turnover by 13%, and foreign trade by 9.2%. The revenue side of the budget is expected to be fulfilled at 100%, and the expenditure side at 96.3%. The average wage increased by 11.9%, and all social payments were financed in a timely manner. The volume of capital investments grew by 3.7%. The President of Turkmenistan noted the importance of developing the financial, economic and banking sectors, instructing that their work be improved. The Deputy Prime Minister also reported on the draft State Budget for 2026, prepared as part of the ‘Programme of the President of Turkmenistan for the socio-economic development of the country in 2022-2028’. The document provides for investments in the development of the country's industries and regions. The Head of State signed a document on submitting the draft State Budget to the Mejlis of Turkmenistan for consideration.
Turkmenistan Economy Days conclude in Frankfurt
01.11.2025The two-day forum brought together representatives of Turkmenistan's ministries and agencies, as well as executives from leading German companies and financial institutions. The event was organised by the Chamber of Commerce and Industry of Turkmenistan, according to the IIC of Turkmenistan. The main topics of discussion were the prospects for bilateral cooperation in energy, industry, agricultural technology and healthcare. Deputy Chairman of the Cabinet of Ministers Nokerguly Atagulyev summed up the results of the implementation of the roadmap for cooperation and stressed the importance of attracting innovation and technical expertise from German partners to implement national reforms. The Turkmen side presented an economic development strategy aimed at creating competitive production with high added value. The ammonia and urea plant in Garabogaz and the gas chemical complex in Ahal were cited as examples of successful projects. The forum concluded with the signing of cooperation agreements and a series of B2B and B2G business meetings, which opened up new opportunities for investment cooperation.
Turkmenistan has identified key areas of partnership with Germany
01.11.2025In Frankfurt am Main, as part of the Turkmenistan Economy Days, Nokerguly Atagulyev, Deputy Chairman of the Cabinet of Ministers of Turkmenistan, delivered a keynote speech, according to the news website Asmannews. He summarised the implementation of the Roadmap for bilateral cooperation and highlighted four key factors for investors: socio-political stability, a rich raw material base, competitive energy prices and reliable legal protection. N. Atagulyev presented promising areas for cooperation with German companies, including the development of energy and petrochemicals, development of Caspian deposits, construction of the TAPI gas pipeline and the ‘Galkynysh’ field, as well as projects in the field of renewable energy — solar and wind stations and a new 10 MW combined power plant in the Balkan velayat. He also noted opportunities for the chemical and textile industries, transport and logistics infrastructure, as well as urban development and healthcare, including the construction of the Arkadag smart city and the participation of German companies in equipping medical facilities. Particular attention was paid to the role of the private sector: The Union of Industrialists and Entrepreneurs of Turkmenistan plans to implement 155 projects by 2028, including the production of fertilisers, technical carbon and electronics. N. Atagulyev emphasised that the forum would serve as a platform for taking trade and economic relations with Germany to a new level.
‘Türkmengaz’ to sign $108 million contract with ‘Siemens Energy Global’
01.11.2025The State Concern ‘Türkmengaz’ plans to sign a contract with ‘Siemens Energy’ worth $108 million for the repair of compressors and turbines. This was announced by Berdimyrat Amanov, Deputy Chairman of the ‘Türkmengaz’ State Concern, at the ‘Turkmenistan Economy Days’ forum in Frankfurt, according to the online publication ‘Business Turkmenistan’. B. Amanov noted the long-term nature of cooperation with German companies. Among the projects is a Memorandum with ‘Siemens Energy’ on the modernisation of compressor stations, signed in November 2023. Special attention is paid to cooperation with BASF: from 2020 to 2025, more than 2,000 tonnes of chemical reagents worth over €22 million were purchased through a trading partner. Amanov proposed concluding a direct long-term contract to optimise supplies. Cooperation with Germany covers the supply of pipes, equipment, chemical reagents, spare parts and the construction of compressor stations. Investment projects are also being developed in Turkmenistan for the production of chemical products and cement based on local resources. The forum was organised by the Chamber of Commerce and Industry of Turkmenistan with the support of TMT Consulting Group.
Turkmenistan to host CIET 2025 International Conference
01.11.2025The CIET 2025 International Conference and Exhibition, to be held in the ‘Avaza’ National Tourist Zone on 3-4 November 2025, will focus on ‘green’ energy and sustainable construction. This was reported by the online publication Arzuw News. Under the slogan ‘Smart Construction. Clean Energy. Resilient Future,’ the event will bring together more than 800 participants from 56 countries. The forum's programme includes discussions on innovative and energy-efficient technologies that can improve productivity and the environmental situation. Special attention will be paid to B2G meetings for direct interaction with government agencies and expanding investment opportunities. The forum will provide entrepreneurs with a platform to present products, establish contacts and form partnerships, contributing to the strengthening of Turkmenistan's economy and promoting the country as a leader in ‘green’ energy and innovative construction.
‘Türkmengaz’ State Concern offers German companies joint long-term projects
01.11.2025At the ‘Turkmenistan Economy Days’ forum in Germany, Berdimyrat Amanov, Deputy Chairman of the ‘Türkmengaz’ State Concern, presented the country’s energy potential and prospects for cooperation with German companies, according to the news agency TerraNews. B. Amanov noted that Turkmenistan's hydrocarbon reserves are estimated at 71.2 billion tonnes of oil equivalent, including 27.4 trillion cubic metres of gas in the ‘Galkynysh’, ‘Yashlar’ and ‘Garakol’ fields. B. Amanov spoke about plans to develop the second and third phases of the ‘Galkynysh’ field, build compressor stations and underground storage facilities, and introduce SCADA digital control systems and smart meters. He also highlighted the successful cooperation with ‘Siemens Energy’ and ‘BASF SE’ and expressed his willingness to expand the partnership with Germany in the supply of equipment, chemical reagents and construction of facilities, confirming Turkmenistan's openness to investment and international cooperation.
Turkmenistan intensifies East-West and North-South transport corridors
31.10.2025Turkmenistan is actively developing its transport infrastructure, striving to become a key transit hub for East-West and North-South routes, said Deputy Minister of Finance and Economy Babaniyaz Yalakov. This was reported by the news website Turkmenportal. He emphasised that the country is located at the intersection of important trade routes, which opens up new foreign markets for domestic producers. According to B. Yalakov, Turkmenistan has a developed air transport network with seven international airports and promising railway routes, including the TRACECA transport corridor, and also participates in the North-South Transport Corridor, the Trans-Caspian Route and the Lapis Lazuli Corridor. Particular attention is being paid to the modernisation of road transport: this year, it is planned to complete the third stage of the Ashgabat-Turkmenabat motorway, providing a direct link with Uzbekistan. The seaport of Turkmenbashi, with its upgraded infrastructure, is expanding access to global sea routes. B. Yalakov added that the country continues to prepare for accession to the WTO, including the finalisation of the Memorandum on Foreign Trade Regime and the introduction of international standards. The Days of Turkmenistan's Economy are being held on 30–31 October in Frankfurt am Main, organised by the Chamber of Commerce and Industry of Turkmenistan and TMT Consulting Group.
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