From: Justin Burke (JBurke@sorosny.org)
Date: Tue Apr 04 2000 - 11:31:07 EDT
FOREIGN INVESTMENT IN TURKMENISTAN TO REACH $8 BILLION IN 2000 - NIYAZOV
Foreign investment in the Turkmen economy will reach $8 billion in 2000,
Turkmen President Saparmurad Niyazov said.
Foreign investment will increase to $80 billion by 2010, he added.
A considerable chunk of these resources will be spent on developing the
Turkmen textile industry, Niyazov said. Production of raw cotton in the republic
will increase to 3 million tonnes per year in the near future, which entails
putting new textile capacities into opera-
tion, the president said. In 2000 alone, Turkmenistan plans to begin construction
on four enterprises in this field. In the future, 4 or 5 textile factories are
expected to be built annually, which will make it possible to increase cotton fiber
processing by 100,000-120,000 tonnes per year.
Thus, Turkmenistan plans to process up to 50% of the cotton fiber produced
in the country at its own factories in the near future, compared to 35% currently.
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