TURKMENISTAN: FIRST INTERNATIONAL INVESTMENT FORUM

UNCLAS ASHGABAT 001061 SENSITIVE SIPDIS STATE FOR SCA/CEN; EEB COMMERCE FOR ESHOUSE E.O. 12958: N/A TAGS: PGOV EIND EINV ECON ETRD TX SUBJECT: TURKMENISTAN: FIRST INTERNATIONAL INVESTMENT FORUM SET FOR OCTOBER ¶1. (U) Sensitive but unclassified. Not for Internet distribution. ¶2. (SBU) Turkmen official media announced the First Annual International Investment Forum to be held October 15-17 in Ashgabat. The Turkmen Chamber of Commerce is organizing the forum with the support of the Cabinet of Ministers. In addition, British company IC Energy was named a forum co-organizer, responsible for inviting participants from abroad. Press reports noted that Turkmenistan's policy of "Positive Neutrality" enhances the forum's ability to serve as neutral ground for business meetings and talks on issues of economic cooperation in the region. Turkmen Chamber of Commerce Chairman Pavlan Taganov told Economic Officer on August 20 that he was confident the Investment Forum would be an excellent opportunity for U.S. businesses to engage the GOTX on opportunities in various business sectors in addition to energy. ¶3. (U) The three-day forum will be divided into both standard plenary sessions and interactive/round table sessions. The topic for the plenary sessions will be strategy and investment opportunities for the development of Turkmen oil, gas, and chemical sectors. The interactive sessions will focus on a wide range of investment projects including: real estate, construction, community improvement, transportation infrastructure, textile industry, healthcare, medical, and pharmaceutical, agriculture, power generation, alternative energy, telecommunications, information technology, and banking. According to press reports, the GOTX promises to provide potential investors with a detailed overview of Turkmenistan's economic potential and its "solid investment portfolio" which lists current projects including the Avaza tourist zone on the Caspian coast. ¶4. (U) To date, IC Energy and the Turkmen Chamber of Commerce have confirmed the following U.S. companies' participation in the forum: American Appraisal, Buried Hill Energy, Chevron, ConocoPhillips, Colemont Insurance Brokers, Exxon Mobil, General Electric, Halliburton, M-I Swaco, MSA, and PricewaterhouseCoopers. Forum organizers also told us that ConocoPhillips and Colemont Insurance Brokers are official partners/sponsors of the forum, and that increased U.S. company participation would add credibility to the annual event. ¶5. (SBU). COMMENT: The International Investment Forum is one of several state-sponsored events designed to attract immediate foreign investment into Turkmenistan. So far, it is no surprise that U.S. energy companies would attend such an event, given the hydrocarbon potential in Turkmenistan. Whether such forums will succeed in convincing other U.S. companies to do business in Turkmenistan remains to be seen. Nevertheless, should the U.S. companies scheduled to participate make it to Ashgabat, it will send a strong signal that American businesses are taking another look at Turkmenistan. END COMMENT. MILES