North and Central Asia, including Turkmenistan, will attract significant foreign direct investment in new projects in 2024, reaching US$31 billion, said UN Under-Secretary-General and Executive Secretary of ESCAP Armida Salsiah Alisjahbana, delivering a video message at the Turkmenistan Investment Initiative (TEIF 2025) in Kuala Lumpur, Malaysia on 23 April.

This sharp increase, she said, underlines the growing attractiveness of the region for international investors.

“With global economic priorities shifting due to climate change and digital transformation, sectors such as renewable energy, clean manufacturing, infrastructure and digital connectivity have significant investment potential,” the ESCAP Executive Secretary said.

“Turkmenistan is well positioned to benefit from these global trends. Its rich natural resources, strategic location and commitment to economic diversification create an attractive investment environment, particularly for companies from Malaysia and ASEAN countries seeking new markets and partnerships,” Alisjahbana said.

Turkmenistan’s role as a Central Asian transit hub offers unique opportunities for trade and energy cooperation, particularly in renewable energy and sustainable infrastructure, she said.

The country’s “National Climate Change Strategy” and “National Renewable Energy Strategy 2030” provide a clear roadmap for the transition to a greener economy. These strategies create opportunities for foreign investors to participate in the development of wind and solar energy projects, energy-efficient infrastructure and smart grid technologies, Alisjahbana said.

She stressed that by attracting foreign direct investment, Turkmenistan can modernize its industrial base, diversify its economy and strengthen its role in regional and global value chains.

Alisjahbana noted that ESCAP stands ready to support Turkmenistan and Malaysia in their joint efforts to promote foreign direct investment for sustainable development.