The U.S. Agency for International Development (USAID)’s Governance Support Program, in partnership with the Union of Industrialists and Entrepreneurs of Turkmenistan (UIET), hosted a virtual seminar designed to support the development of the Ashgabat Stock Exchange and to attract investment in the country’s economy, the USAID said in its Thursday press release.
In his opening remarks, U.S. Ambassador to Turkmenistan Matthew S. Klimow said “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 will open opportunities to advance Turkmenistan’s economic prosperity and to attract foreign as well as domestic investors.”
The 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.
The Ashgabat Stock Exchange, established by the Government of Turkmenistan in 2016, aims to expand its potential, to attract foreign investment and to promote exports.
The USAID-funded Governance Support Program is implemented by the QED Group LLC in partnership with the Government of Turkmenistan.