Today, the International Forum on Attracting Foreign Investments into the Economy of Turkmenistan, organised by the state concerns «Türkmengaz», «Türkmennebit» and the Chamber of Commerce and Industry of Turkmenistan, began its work in the capital of Malaysia.

The specialised forum has become an important platform that has brought together the heads and representatives of leading international energy organisations, oil and gas, construction, transport, communications and financial companies, research centres, and experts. Its goal is to expand opportunities for attracting foreign direct investment into key sectors of the economy of Turkmenistan, such as energy, transport, communications, construction and finance, and to strengthen regional dialogue for the sustainable development of the energy sector.

The impressive number of companies participating in the forum emphasises the growing interest of international business in Turkmenistan as a promising investment destination.

A welcoming address from President Serdar Berdimuhamedov to its participants was heard at the grand opening of the forum.  In his message, the head of state expressed confidence that the international forum will expand mutually beneficial partnership and increase business contacts in attracting investments.

Confirming its commitment to the principles of neutrality and peaceful foreign policy, Turkmenistan plays a key role in ensuring a sustainable energy future both at the national and international levels. A significant sign of recognition of this position by the world community was the adoption, at the initiative of our country, of the Resolution of the United Nations General Assembly «2025 - International Year of Peace and Trust» at the 63rd plenary meeting of the 78th session of the UN, held on the 21st of March, 2024.

This topic was developed during the plenary session «International Year of Peace and Trust: the Role of Turkmenistan in Shaping the Future of Global Energy and Sustainable Development». Turkmenistan’s advantageous strategic location, as well as the presence of rich natural gas reserves, allow the country to make a significant contribution to the creation of reliable energy and transport and transit corridors.

The discussion focused on current issues on topics such as the country’s hydrocarbon resource base, new investment projects in the oil and gas industry, etc.

During the panel discussion «New Investment Opportunities in Turkmenistan’s Energy Sector: Natural Gas and Monetisation», participants received detailed information on a number of key areas of development of Turkmenistan’s fuel and energy complex. Particular importance in this strategy is attached to the phased development of the largest gas field «Galkynyş».

Much attention was paid to the implementation of the transnational gas pipeline Turkmenistan–Afghanistan–Pakistan–India (TAPI).

In the context of the session dedicated to accelerating the process of attracting investment in infrastructure projects in Turkmenistan with an emphasis on construction, transport, information technology and telecommunications, modern urban development and Turkmenistan’s contribution to sustainable development, its role in the revival of historical trade routes and strengthening ties between Europe and Asia through the TRACECA initiative were considered.

In the context of urban development, it is worth noting the implementation of an innovative project - the «smart» city of Arkadag, which serves as a model of sustainable development. Currently, the second stage of the city's construction is ongoing.

This is the first «smart» city in Central Asia, which has a special legal status of a city of national importance. It is a demonstration of Turkmenistan's strategic course on the introduction of advanced technologies and the formation of a comfortable and sustainable urban environment. The project has earned wide international recognition, confirmed by a number of prestigious awards and certificates.

The leaders and leading specialists of the domestic and foreign oil and gas sector who spoke at the forum especially noted the role of Turkmenistan's neutral status. Three times recognized by the relevant UN Resolutions, this status allows the country to offer the world community effective measures for security, peace and cooperation.

In this context, Turkmenistan, sharing similar positions with Malaysia in striving for a fair and balanced system of international relations based on taking into account the interests of all countries and strengthening the role of developing countries, expresses interest in intensifying economic cooperation with the Association of Southeast Asian Nations (ASEAN). 

Broad investment opportunities in the energy sector of Turkmenistan open up prospects for the development of the oil and petrochemical industries. The country's strategic approach is aimed at the effective use of significant hydrocarbon reserves in order to stimulate economic growth, diversify industry and integrate into the global economy.

Considerable interest are projects for the development and construction of modern petrochemical complexes aimed at producing high-value-added products for global markets. Along with this, there are opportunities to optimise oil production at mature fields and introduce innovations in geological research, including prospecting and exploration of ore and non-metallic minerals.

The development of the industrial and service sectors of Turkmenistan opens up significant prospects for cooperation between the private sectors of Turkmenistan and Malaysia. An important driver of economic growth is the increase in production volumes and expansion of export opportunities in key sectors such as manufacturing, textile and food industries.

The Government of Turkmenistan is implementing a number of initiatives aimed at stimulating import substitution and increasing the competitiveness of national products in world markets. As part of these efforts, special attention is paid to the development of the private sector, expansion of public-private partnerships and the implementation of measures to strengthen the country's export potential.

As noted during the panel discussion on the role of clean energy in creating a sustainable future, Turkmenistan has demonstrated an active position on climate action.  The country's commitment to environmental responsibility was emphasized by President Serdar Berdimuhamedov at the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP-28), where Turkmenistan announced its accession to the Global Methane Commitment and continued cooperation with international partners in addressing climate issues.

Innovative solutions such as carbon capture, use and storage (CCUS) that can be monetised are being considered as part of efforts to reduce methane and CO2 emissions. Measures to stimulate investment in projects aimed at reducing harmful emissions and developing clean energy in line with global climate goals are also being discussed.

In this way, deepening bilateral cooperation between Turkmenistan and Malaysia, along with strengthening humanitarian and intergovernmental ties, opens up significant potential for enhancing mutually beneficial cooperation in a wide range of areas. This includes stimulating mutual investment and creating favourable conditions for doing business, as well as promising joint work on implementing projects in energy, transport and communications, construction, oil and gas processing, chemical industry, high technology, innovative urban development and tourism. Given the desire of both countries for sustainable development and the introduction of advanced technologies, deepening cooperation can also facilitate the exchange of experience and best practices in areas such as green technologies and the development of smart cities. 

The International Forum on Attracting Foreign Investments into the Economy of Turkmenistan, which is being held in a constructive manner, is an effective platform for substantive dialogue between Turkmen and Malaysian representatives. The participants in the discussions highly appreciated the constructive nature of the event, emphasising its importance for discussing the prospects for developing fruitful cooperation. Confidence was expressed that the current meeting will make a significant contribution to strengthening the partnership and further development of the economies of the two countries.