Results of the "Turkmenistan TIF 2024" Investment Forum

The "Turkmenistan TIF 2024" Investment Forum concluded successfully, clearly demonstrating the prospects for implementing major joint projects in the country's key economic sectors.

The forum was attended by dozens of domestic and foreign companies united by the common goal of contributing to the development of Turkmenistan's economy through attracting investments and introducing new technologies.

One of the significant events on the second day of the forum was the opening ceremony of infrastructure projects being implemented as part of the cooperation between Turkmenistan and Afghanistan. These projects showcase the effectiveness of international partnerships in developing the fuel and energy sector and regional integration.

Energy security was the central theme of the panel discussion "The Role of Turkmenistan's Fuel and Energy Sector in the Regional Energy Transition: Key Trends and Investment Opportunities." Participants discussed issues such as changing demand for energy resources, price fluctuations and the introduction of new technologies.

Turkmenistan, with its rich oil and gas reserves, aims to ensure stable supplies to the global market, paying special attention to the environmental safety and economic accessibility of energy resources. The emerging investment opportunities in this sector attract international companies interested in developing Turkmenistan's energy infrastructure.

Another important aspect of the forum was the discussion of Turkmenistan's membership in the World Trade Organization (WTO). The prospects of the country's accession to this organization were considered at the "Round Table" with international and Turkmen specialists. Membership in the WTO opens access to international markets, ensures stability in trade conditions, stimulates export-oriented enterprises, and enhances the country's investment attractiveness. Joining the WTO will also help Turkmenistan integrate harmoniously into the global economy, strengthen competitiveness, and enhance trade diplomacy.

Special attention at the forum was also given to the development of renewable energy sources. Turkmenistan, striving for sustainable energy development, actively implements projects for the use of solar and wind energy. In his speech, Dovlet Allayarov, Head of the Renewable Energy Development Department of the State Energy Corporation "Turkmenenergo," emphasized the importance of this sector for the national economy. Turkmenistan not only meets its internal electricity needs but also exports it to neighboring countries. The law "On Renewable Energy Sources" adopted in 2021 and the national strategy until 2030 aim to maintain a balance between economic development and environmental protection.

To support this economic direction, a Scientific and Production Center for Renewable Energy Sources was established in Mary. Its main tasks include personnel training, research of new technologies, and implementation of international projects. In this regard, Turkmenistan actively cooperates with international organizations such as the International Renewable Energy Agency (IRENA), the Asian Development Bank, and the OSCE, which contributes to the development of renewable energy in the country and increases its export potential.

A significant step in the development of the energy sector was the construction of combined cycle power plants, which allow for the efficient use of secondary energy resources. In 2018, a power plant with a capacity of 1,574 MW was commissioned at the Mary Hydroelectric Power Station, and in November 2023, the construction of a similar station began in Balkan velayat.

In the future, it is planned to modernize and convert other power plants to a combined cycle, which will contribute to energy savings and environmental sustainability.

At the end of the forum, participants expressed gratitude to the President of Turkmenistan Serdar Berdimuhamedov for creating the necessary conditions for holding the event at a high level.

The forum became not only a platform for discussing major projects but also a place for establishing strong international contacts between companies, government structures, international organizations and leading specialists.

The signed contracts and ambitious plans confirmed the success of TIF 2024, laying the foundation for the progressive development of Turkmenistan's economy and its integration into the global economic system.