Avaza National Tourist Zone was created at the Caspian Sea cost of Turkmenistan

The presentation of the first national tourist zone in the development of which Turkmenistan intends to invest one billion US dollars was held in Turkmenbashi on 21 July.

Justifying the decision on the establishment of the free tourist zone in Turkmenbashi and its settlements the President of Turkmenistan noted that the choice of the region is predetermined by the abundance and variety of natural resources, peculiar geographical location and climate conditions favourable for the development of the resort and health tourism. This part of the Caspian coast is remarkable for clean sea water and good sandy beaches, mild climate, mineral springs and therapeutic mud. The existence of the main transport routes, sea and air ports, trunk roads and rail way is also an important factor. The vast opportunities for the development of the Caspian region will be provided after the construction of new international thoroughfare, the rail way crossing the territories of Russia, Kazakhstan and Turkmenistan to Iran will be completed. The President of Turkmenistan marked that in accordance with the priorities of the national policy great attention will be paid to the preservation of the ecological wellbeing of the Caspian coast.

The complex of measures aimed at creation of the most favored nation treatment for foreign partners investing into the construction of various social and economic objects and service industry includes simplification of visa procedures for tourist and foreign specialists working there. A number of tax remissions and the other privileges including exemption from paying custom fees for imported construction materials, exchange duties for contracts’ registration, license fee, rental for the land allotted for construction of the objects of tourist industry and infrastructure and etc. will be provided to the companies carrying out their activity on the territory of the Avaza national tourist zone.

Providing the foreign investors with the free currency conversion, the right to transfer the earned financial resources abroad after paying the taxes and maintaining all regulations of the international and national legislation Turkmenistan lays down the only condition. While designing, placing, constructing, reconstructing and operating the objects on the territory of the tourist zone the requirements of ecological security and environmental protection should be met.

Underlying that Turkmenistan guarantees the fulfillment of all contracts and obligations the President of Turkmenistan Gurbanguly Berdymuhamedov invited all representatives of foreign business communities interested in cooperation to take an active part in implementation of the national prospective project.

Source: http://www.turkmenistan.gov.tm