Learn about barriers to market entry and local requirements, i.e., things to be aware of when entering the market for this country.
Last Published: 7/21/2019
  • Lack of consistent, transparent business legislation and sanctity of contracts.
  • Laws and regulations are subject to frequent change and contradictory interpretation by various government agencies and officials.
  • The judicial branch operates under direct instruction from the executive.
  • Corruption is pervasive and endemic at all levels of the business stream.
  • Qualified employees, particularly those with English language skills, are scarce.
  • Turkmenistan’s labor force generally lacks knowledge of standard, Western business practices.
  • The Agency for Protection from Economic Risks, under the Ministry of Finance and Economy, holds a wide mandate to vet foreign companies before issuing licenses allowing operation in Turkmenistan.
  • The economy appears to have been in recession or stagnant since the last quarter of 2014 when global hydrocarbon prices fell.
  • Foreign businesses in Turkmenistan face steep barriers to collecting on bills owed by government ministries.
  • Companies face tight foreign exchange controls.
  • Turkmenistan’s visa procedures are exceptionally cumbersome and time-consuming.
  • Unreliable Internet access and slow download and upload speeds. The Government of Turkmenistan regularly blocks certain mainstream websites and private companies’ Virtual Private Networks (VPN).
  • Most industry is controlled by the government and all communication with it is slow, as it typically must be accomplished via diplomatic notes to the Ministry of Foreign Affairs.

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