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USAID FACILITATES STRENGTHENING TURKMENISTAN’S SECURITIES MARKET

October 07, 2021, Ashgabat, Turkmenistan – Today, the U.S. Agency for International Development (USAID)’s Governance Support Program, in partnership with the Union of Industrialists and Entrepreneurs of Turkmenistan (UIE), hosted a virtual seminar designed to support the development of the Ashgabat Stock Exchange and to attract investment in the country’s economy.

In his opening remarks, U.S. Ambassador to Turkmenistan Matthew S. Klimow stated, “I believe that a free functioning stock exchange can be a guarantor of prosperity for a nation.  So I am happy to help introduce this seminar today.  I hope that our cooperation in this area will open opportunities to   advance Turkmenistan’s economic prosperity and to attract foreign as well as domestic investors.”

The Ashgabat Stock Exchange, established by the Government of Turkmenistan in 2016, aims to expand its potential, to attract foreign investment and to promote export.

Today’s event was the first in a series of seminars to discuss the benefits and characteristics of healthy financial markets, the findings and recommendations of the comparative legal analysis, and ultimately to improve the legal framework for increased foreign investment in the national economy.  It represents the beginning of an impactful partnership between USAID and the Government of Turkmenistan.

The USAID-funded Governance Support Program, implemented by the QED Group LLC, in partnership with the Government of Turkmenistan, aims to strengthen accountability, effectiveness, and transparency of governance in the country.

 

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