(Aug. 29, 2008) On August 20, 2008, the office of the President of Turkmenistan announced that amendments to the nation's Law on Foreign Investment have entered into force. According to the announcement, the amendments will help to promote active collaboration with foreign investors and provide them with firm state guarantees. As an additional measure to attract foreign investments, more international exhibitions, trade shows, fairs, and conferences will be organized.
The National Chamber of Commerce and Industry is assigned the task of coordinating all activities in this field and setting the schedule of the events and lists of participants, which are subject to governmental approval. Reportedly, all international tenders for procurement of equipment and machines and design and construction of industrial, social, and cultural facilities in the country will also be conducted by the Chamber of Commerce and Industry. The amendments establish that information on business opportunities in Turkmenistan will be provided in English, Russian, and Turkmen languages. (Turkmen President Issued Resolution on Regulations of Exhibitions, Emerging Markets database, Aug. 20, 2008, available at http://www.securities.com.)