Turkmenistan brags about economic accomplishments to UNDP experts

The state information agency TDH reports that on 20 June 2018 the conference Partnership for financing development in the heart of the Great Silk Road, organized by the State Bank for Foreign Economic Affairs of Turkmenistan and the United Nations Development Program (UNDP), was held in Ashgabat.

The event brought together representatives of transnational finance institutions, companies, commercial banks as well we the UNDP experts.

The participants reviewed the new areas of funding for Sustainable Development Goals (SDGs) on the national and regional levels, discussed the role of the national banking system in investment, the experience in financing innovation-driven growth, business as well as cross-border projects.

The Turkmen side shared the constructive proposals put forward by the Turkmen President which are widely supported by the international community.

Today a favourable investment climate has been set up in Turkmenistan to facilitate the development of the private sector and boost direct foreign investments into the Turkmen economy. In particular, the relevant legal framework, including the laws safeguarding the protection of foreign investments, has been designed and is operational. In October 2017 the Law On free trade zones was adopted which provides considerable incentives, in taxation and land lease inter alia. The simplified taxation system has been introduced for small and medium businesses and the authorities provide low interest loans with a view of promoting the private sector, � TDH says.

The following documents were signed based on the results of the conference: Memorandum of Understanding and Cooperation in accumulating funds to achieve SDGs in Turkmenistan between the State Bank for Foreign Economic Affairs of Turkmenistan and the UNDP, as well as Memorandum of Understanding and Funding potential projects in Turkmenistan between the government of Turkmenistan and Qatar holding Al Qamra Holding Group.

Wikipedia: The Sustainable Development Goals (SDGs), officially known as Transforming our World: the 2030 Agenda for Sustainable Development, are a collection of goals for future international cooperation which replaced the Millennium Development Goals in late 2015. These goals are planned to be reached from 2015 to 2030.

Source: Chronicles of Turkmenistan