As we wrote earlier, at a meeting of the Cabinet of Ministers of Turkmenistan, Deputy Prime Minister Shakhim Abdrakhmanov announced that State Concern "Turkmengaz" has fully and timely repaid its debt to the China Development Bank. In his article Yuri Aronsky, an expert of the editorial board of CentralAsia.news, presents his expert view of the issue.
The investment attractiveness of a business entity is primarily assessed by its reliability and ability to fulfill its obligations within the stipulated timeframe. This is especially significant in the case of foreign loans. As we know, some states delay the due dates of loan obligations or ask creditors to partially write off debts.
"Accuracy is the politeness of kings."
In this context, Turkmenistan has a solid position in the international financial market, as it accurately and timely meets its obligations. A clear example of this is the timely and full-fledged repayment of significant credit funds to the China Development Bank, which were attracted by "Turkmengaz" for the implementation of projects on diversification of gas export routes, construction of the Turkmenistan-China gas pipeline and development of the "Galkynysh" gas field.
According to the expert, the above fact is a solid contribution to the investment attractiveness of Turkmenistan and provides an opportunity to obtain international support for the progressive movement in the implementation of the "green economy.
Investment - the basis of economic growth
It is obvious that increasing the flow of investment is a key factor in catalyzing economic development and the growth of living standards in the state.
Turkmenistan has recently been actively attracting international investment in the domestic economy and introducing innovative technologies.
The share of savings in GDP is significant
Previously, the expert stressed that the significant share of savings in the structure of GDP allows the national level to diversify vectors of economic development, the introduction of new technologies, to carry out serious pace of digitalization, even in the context of the global world crisis.
Also in one of his articles, the economic expert assessed that The strategic approach of the state leadership made it possible to minimize the impact of the global crisis on Turkmenistancaused by COVID-19.
Yuri Aronsky emphasized that The state management systematically carries out activities to improve the investment climate. Favorable business environment is provided through regulatory and legal basis, simplification and unification of tax and statistical reporting. All these processes are favorable to increase the external investment flow into the Turkmen economy even in the realities of the global crisis.