Private companies in Turkmenistan enjoy considerable competitive advantages due to low energy costs and affordable labor, said Eric Livny, Head of the European Bank for Reconstruction and Development (EBRD) representation in Turkmenistan, in an interview with the news agency Trend.

According to Livny, state support provides businesses access to electricity, water, and land resources at minimal prices.

These conditions have fostered the rapid development of import-substituting industries, which subsequently began focusing on exports due to limited domestic demand, Livny noted. He identified the plastic packaging, construction materials, and greenhouse produce sectors as remaining competitive.

As examples, the EBRD head cited Tudana, a company supplying greenhouse-grown strawberries to the major Uzbek retail chain Korzinka, and the agro-industrial enterprise Miwe, which operates a 100-hectare greenhouse cultivating bananas targeted at both domestic and export markets.

In its ongoing activities in Turkmenistan, the EBRD also plans to deepen cooperation with local banks, including support for foreign trade operations and financing of small and medium-sized enterprises through follow-on lending mechanisms.

Founded in 1991 by 40 countries and two international organizations, the European Bank for Reconstruction and Development currently operates in 34 countries. Its work in Turkmenistan began in 1992. The bank’s mission is to promote financial stability, develop private entrepreneurship, and establish institutions that strengthen business ties.