Istanbul set to host Turkmen investors

ISTANBUL - Anatolia News Agency

Turkish Economy Minister Zafer Çağlayan (R) poses with Turkmenistan’s President Berdimuhamedow during his visit in Ashgabat in this file photo. AA photo

The Fifth International Investment Forum of Turkmenistan will be held in Istanbul Mar. 5 and 6 as the investment value of Turkish firms in Turkmenistan increases.

The forum, which will host more than 700 businessmen from nearly 100 foreign firms as well as the diplomatic representatives of 35 countries, aims to present new business opportunities in Turkmenistan to Turkish businessmen this year.

The investments of Turkish construction firms reached $4.9 billion in Turkmenistan last year, the largest portion of all worldwide investments at 19 percent. The total investment value of Turkish firms in the country was $30 billion.

Turkish President Abdullah Gül and Economy Minister Zafer Çağlayan have had close relations with the rapidly growing economy of Turkmenistan, which boosts an 11 percent growth rate average in the last five years, attracting foreign investments. Turkmenistan is slated to make investments worth $70 billion as part of its 2012-2016 Development Program.