Japanese companies are implementing 38 investment projects in Turkmenistan worth more than 11 billion USD

Japanese companies are implementing 38 investment projects in Turkmenistan worth more than 11 billion USD. About this stated the Chairman of the Halk Maslahaty Milli Gengesh Gurbanguly Berdimuhamedov at a meeting with representatives of the business community of Japan, which was held in Tokyo, reports the “Neutral Turkmenistan” newspaper today.

“Today, 38 investment projects with the participation of Japanese companies have been registered in our country for a total amount exceeding 11 billion USD, about 230 million euros and almost 17 billion yen”, - Gurbanguly Berdimuhamedov said, stressing that these figures confirm the confidence of Japanese business in Turkmenistan, his confidence in the prospects and high return on investment.

He noted that only in the last 4 years, with the participation of Japanese companies, large industrial facilities were put into operation in Turkmenistan - a gas chemical complex for the production of ammonia and carbamide in Garabogaz, a polymer plant in Kiyanly, a plant for the production of gasoline from natural gas in Ovadandepe and a gas turbine power plant in the Chardzhev etrap of the Lebap velayat.

The head of the Halk Maslahaty of the national parliament also said that the General Agreement on the supply of Komatsu earth-moving equipment worth more than 470 million USD and Toyota vehicles with a preliminary cost of 90 million USD is currently being implemented.

“All these are successful examples of the mutually beneficial, long-term nature of our partnership, based on the experience already gained, evidence of its stability and dynamism”, - Gurbanguly Berdimuhamedov emphasized.

He also said that negotiations are currently underway with the Ministry of Foreign Affairs and the Ministry of Economy, Trade and Industry of Japan on the Agreement on the Promotion and Mutual Protection of Investments.

“Its conclusion will further strengthen the legal basis for cooperation and create the necessary guarantees and conditions for increasing the investment activities of Japanese companies in Turkmenistan”, - Gurbanguly Berdimuhamedov said.

The head of the Halk Maslahaty noted that among the priorities of the partnership with Japan are environmental protection, projects in the field of green and clean energy, which is in line with modern world trends.

“Turkmenistan is closely studying Japan's policy to reduce greenhouse gas emissions by 2030 through the use of renewable energy and carbon dioxide through the use of advanced technologies for the production of hydrogen by 2050.

This year, with the participation of the Ministry of Economy, Trade and Industry of Japan (METI) and companies, the Japanese side shared its experience in the development of the “hydrogen energy” industry and discussed the possibilities of cooperation with Turkmenistan”, - continued Chairman of the Halk Maslahaty Milli Gengesh.

“We highly appreciate this approach and would like to continue working in this direction. We also expect that with the financing of the Japan Bank for International Cooperation (JBIC), relevant work will be carried out to implement the GTG2 project - the production of gasoline from natural gas using Kawasaki's advanced technologies in the field of clean energy”, - Gurbanguly Berdimuhamedov said.

Taking the opportunity, the Chairman of the Halk Maslahaty Milli Gengesh expressed gratitude to the Japanese business community for cooperation and at the same time confirmed the firm readiness of Turkmenistan for its development, diversification and expansion, while noting the active assistance to this process from the Japanese government, primarily the Ministry of Economy, Trade and Industry, Bank for International Cooperation of Japan, NEXI insurance agency.

Let us remind that last week, on behalf of the President of Turkmenistan, Chairman of the Halk Maslahaty Milli Gengesh Gurbanguly Berdimuhamedov is on a working trip to Japan, during which he participated in the state funeral of Shinzo Abe, and also held meetings with the Prime Minister of Japan, representatives of parliament, leaders of some leading companies in the country.