Cash Withdrawals Limitations Removed
On August 26, Turkmen banks introduced a strict limitation on the amount of cash withdrawals for entrepreneurs, preventing them from withdrawing more than 8000 manats (3090 USD) per month. On August 30 these limitations were removed. Some entrepreneurs believe that the limitations were introduced in accordance with the decision of Turkmen Vice-premier Annamikhamed Gochiev, who is in charge of the economic sector. The banking system in the country does not meet modern requirements: there are no international bank agreements on money transfers, no safeguards for account holders, and a card payment system is not developed, etc. But the most acute problem is the lack of cash, and this problem is not caused by the bank, but by the economic policy carried out by the government.
Source: Turkmenistan Chronicles
Turkmen-Russian Intergovernmental Commission for Economic Cooperation Holds Meeting in Ashgabat
Ashgabat hosted the 7th meeting of the Turkmen-Russian intergovernmental commission for economic cooperation. A delegation led by Deputy Prime Minister of the Russian Federation Arkady Dvorkovich arrived in Ashgabat to participate in the meeting. Heads and representatives of several government bodies and businessmen of the two countries attended the event. The meeting participants identified the priority areas of cooperation, including in the trade and economic sphere, fuel and energy sector, power engineering, machinery construction, transport and communication area, agriculture and other industries. President Berdymukhamedov held a personal meeting with Dvorkovich, which resulted in the signing of an intergovernmental agreement on cooperation in maritime transport.
Sources: Turkmenistan.ru, gundogar.org
Ashgabat Hosted International Exhibition “Turkmentel – 2013”
Ashgabat opened the VII International Exhibition of telecommunications, telemetry, information technologies and broadcasting equipment, entitled "Turkmentel 2013," organized by Turkmenistan’s Communications Ministry and the Chamber of Commerce. Delegations from 28 countries, including the US, Russia, Great Britain, France, Germany, Spain, Denmark, Finland, Sweden, Switzerland, Japan, China, Korea, Spain, Lithuania, Kazakhstan, Afghanistan, and Slovenia, took part in the event.
MTS To Expand Services in Turkmenistan
MTS-Turkmenistan, a subsidiary of Russia's MTS (Mobile TeleSystems), plans to introduce a variety of new services associated with data transfer, such as content services that provide subscribers a choice of over half a million of licensed audio-tracks. This development was announced by the CEO of MTS-Turkmenistan, Oleg Chieftains, at the VII International Exhibition of telecommunications, telemetry, information technologies and broadcasting equipment "Turkmentel 2013."
Construction of Turkmenistan-Afghanistan-Tajikistan Railway to Begin Shortly
Preliminary work on the feasibility study of the Afghan section of the Turkmenistan-Afghanistan-Tajikistan railway project has been completed and tenders are expected to be announced in the coming days for carrying out the feasibility analysis, Afghan Deputy Minister of Public Works Ahmad Shah Wahid told Trend on September 19. According to him, the Afghan section of the railway has a length of 355 km."The Turkmenistan-Afghanistan-Tajikistan railway, the construction of which will begin in the near future, will be one of the largest projects in the region," Wahid said. According to him, the construction of the Turkmen section of the railway has already begun. The Asian Development Bank undertook the implementation of the Afghan section of the project, and it will cost $350 million, the Deputy Minister said.
Turkmen Space Satellite to Broadcast to Three Continents
By late 2014, the national satellite of Turkmenistan will have three antennas and will be able to broadcast to parts of Europe, Africa, and Asia, representative of the Space Agency under the President of Turkmenistan, Jeren Annamanova, said in an interview with Neutral Turkmenistan newspaper. The satellite will provide all types of communication services - television and radio broadcasting, Internet services, telephone communications, video conferencing, distance learning, tele-medicine, and an information network. According to a contract signed in 2011 with the Turkmen government, France’s Thales Alenia Space has begun building the first national satellite of Turkmenistan. In turn, the Chinese industrial company Great Wall has entered into a contract with Thales, in which China will help Turkmenistan launch its first communications satellite. The launch is scheduled for 2014 from the Chinese Xichang Satellite Launch Center with the help of the Changzheng - 3B series rocket carrier.