Central Asian countries have an opportunity to change their development trajectory by diversifying their economy towards non-resource industries, Trend news agency reported on Saturday, citing Secretary General of the Organization of Turkic States (OTS) Baghdad Amreyev as saying during the Tashkent International Investment Forum.
Speaking at the panel session themed “The Investment Potential of Central Asia,” the OTS Secretary General focused on the ways to attract more regional investments to Central Asia. He said the main levers to develop the region's potential are infrastructure development, support for cross-border movement of goods, services, people and capital, harmonization of the regulatory framework, active development of complementarity, as well as coordination of strategies to attract investments.
According to Amreyev, such major mechanisms as the Turkic Chamber of Commerce and Industry, the Turkic Investment Fund, cooperation among the Special Economic Zones established and operating under the OTS, as well as institutional measures undertaken by the organization will provide favourable conditions for attracting investments to the region.
He also added that the region has the opportunity to change the trajectory of development by diversifying the economy towards non-resource industries.
"This requires investments in infrastructure projects and development of promising non-resource industries," Amreev said.
The first Tashkent International Investment Forum was held in Uzbekistan on March 24-26.