Turkmenistan is one of the countries with an actively developing, investment-industrialized, fairly open economy. External economic shocks and uncertainty in the global markets dictate the need to work out certain measures to stimulate the development of the economy's priority sectors, ensuring the economic system's sustainability and stability and the ability to respond to changes in global markets. The measures taken in the country to diversify all sectors of the economy, intensify import-substitution policy, create an industrially developed economy, introduce the latest technologies and innovations, create flexible infrastructure, and ensure widespread digitalization of the economy make it possible to maintain consistently high growth rates in all sectors of the national economy.
  As part of our commitment to bolster Turkmenistan's economic security, substantial investments are channeled into key sectors such as oil and gas, construction, agro-industrial complexes, and the social and cultural sphere. This strategic allocation of resources is designed to enhance the economy's self-sufficiency and the efficiency of our investments.
  The robust growth rate of our gross domestic product (GDP), which reached 106.3% in 2023, is a testament to the effectiveness and timeliness of the measures implemented by the Government of Turkmenistan. These measures are aimed at developing a resilient economic system capable of weathering global economic challenges. In 2023, the volume of goods-producing industries accounted for 50.6% of the country's total GDP, further underscoring our economic progress.
  Turkmenistan's investment policy aims to attract investment in fixed capital and channel it into innovation, high-value-added production, job creation, and human capital development, as well as into areas designed to ensure the country's environmental and socio-economic security.
  In recent years, the volume of investment in Turkmenistan's economy has amounted to more than 10 billion US Dollars, most of which is directed to the real sector of the economy. The share of entrepreneurs and businesses in Turkmenistan's investments is over 50 percent. At the same time, the share of foreign investments is 11-12% of total investments.
  For the past two decades, Turkmenistan's tax system has remained stable, with relatively low tax rates that do not fluctuate. This consistency provides a reliable and predictable fiscal environment for investors, contributing to the country's favorable investment climate.
  As of January 2023, the procedure for registering legal entities has been simplified, and the terms of private enterprise registration were reduced from 14 to 3 days. The list of documents that should be submitted for registration has also been substantially reduced, as has the list of licensed activities. The improvement of customs procedures at Turkmenistan customs checkpoints should also be mentioned.
  Undoubtedly, all these measures contribute to improving the investment climate for both domestic and foreign investors.
  Turkmenistan is open to mutually beneficial cooperation and ready to provide any assistance in implementing projects of national and regional importance. The prospects of this cooperation are wide, as Turkmenistan has a huge natural and economic potential, an open economy, and favorable investment opportunities. Invest in a sustainable, prosperous, dynamic economy!

We welcome all investors to the upcoming TIF 2024 in Ashgabat!