Arzuw NEWS - Turkmenistan news

Arab corporation invests $10 million in private business development in Turkmenistan

At the meeting of the Cabinet of Ministers of Turkmenistan on November 12 discussed the financing of the private business sector Islamic corporation ICD. A company from Saudi Arabia has been operating since 1999 in Jeddah. Within the framework of this project, foreign partners are ready to invest in the private sector our country's economy $10 million.

The funds received will be used for:

  • activation of entrepreneurship in Turkmenistan,
  • increase in the volume of domestic products that are produced by small and medium-sized businesses,
  • Strengthening the position of Turkmen private companies in foreign markets,
  • opening of new jobs.

The head of Turkmenistan instructed Deputy Prime Minister G. Mushshikov to closely monitor the distribution of funds, which will pass through the State Bank of Turkmenistan for Foreign Economic Activity.

Source: turkmenistan.gov.tm

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