US Companies Invest $3.3 Billion in Turkmenistan For 180 Projects

US Companies Invest $3.3 Billion in Turkmenistan For 180 Projects
Batyr Atdayev, Deputy Chairman of the Cabinet of Ministers of Turkmenistan, delivers a speech at the Turkmen-American Business Forum, December5, 2023, Ashgabat, Turkmenistan.

At present, 180 projects involving American companies are operating in Turkmenistan with a total value of $3.3 billion, Deputy Chairman of the Cabinet of Ministers for Trade Complex and Textile Industry Batyr Atdayev informed at the US-Turkmenistan Business Forum in Ashgabat on Tuesday.

The Deputy Prime Minister highlighted that the projects primarily involve companies such as Boeing, General Electric and John Deere. Batyr Atdayev emphasised that Turkmenistan has excellent prospects in attracting American investments and technologies to create scientific and innovative industries in Turkmenistan.

Atdayev also stated that the trade turnover between Turkmenistan and the United States last year was $38.7 million, and in the first ten months of 2023 - $65.12 million, which is twice as much as in the same period last year.

Deputy Prime Minister Atdayev added that Turkmenistan primarily exports products from the oil and gas complex and the chemical industry to the United States. These exports highlight Turkmenistan's strengths in these sectors. Conversely, Turkmenistan's main imports from the United States are equipment, machinery, metalworking products, vehicles, spare parts and food products.

The US-Turkmenistan Business Forum kicked off its proceedings on Tuesday at the prestigious Ýyldyz Hotel in Ashgabat and will last until Friday.