Malaysia Invited To Diversify Its Investment In Turkmenistan

By Joshua Foong LONDON, Feb 8 (Bernama) -- Malaysian firms should capitalise on the vast business opportunities in Turkmenistan as the Central Asian nation seeks to intensify contacts in a broad spectrum of economic partnership. This invitation was expressed by the President of Turkmenistan, Gurbanguly Berdimuhamedov, to Malaysia Foreign Minister Anifah Aman at a meeting on Feb 1. Anifah, who was met by Malaysian press in London on Tuesday, said among key areas that was raised at the meeting was the increase of Malaysian involvement in industrial, transport and communications as well as high technology and tourism sectors, especially in the context of Turkmenistan's ongoing infrastructural projects and large-scale reform initiatives. "President Berdimuhammadov, who together with Malaysia Prime Minister Najib Tun Razak, took the relationship of both countries to a higher level in the past year, has indicated to me that his government will be very friendly to any possible Malaysian involvements and investments in the Turkmen economy," he said. The Turkmen market, which is rapidly developing, and the favourable investment climate in the country, provide a conducive platform for the establishment of long-term cooperation with Malaysian business circles. "My trip to Turkmenistan was also to assist Petronas in trying to secure other further business opportunities and to request for speedy government approval to facilitate of some of the work that they plan to do there," he added. Petronas Carigali, the exploration and production arm of Petronas, began operating in the Turkmen sector of Caspian Sea since 1996. Ten years later, in May 2006, the national oil corporation began to diversify in more downstream activities, such as industrial production and oil export. Moving forward, on top of wider economic links, Berdimuhammadov had also expressed hopes that both Malaysia and Turkmenistan will be able to enhance bilateral humanitarian contacts, including in areas of education, professional training, science and culture. Anifah also said that his ministry has already identified a candidate to be appointed as Malaysia's first ambassador to Turkmenistan, with a Malaysian Embassy to be opened in the Turkmen capital of Ashgabat in the coming months. Turkmenistan is also in the process of establishing an embassy in Kuala Lumpur. -- BERNAMA