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Agency for Protection from Economic Risks to Assess Foreign Subcontractors
Economy
Agency for Protection from Economic Risks to Assess Foreign Subcontractors
Published 28.04.2017
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The President of Turkmenistan signed the Decree prescribing the government agencies, enterprises and organizations, as well as those with state participation, to give consent to their contractors, delivering at their order the works and services specified in the investment projects implemented in Turkmenistan by legal entities, their affiliated branches and representations, to hire as subcontractors the foreign legal entities, their affiliated branches and representations, as well as the enterprises with foreign capital, only if they have the positive conclusion of the Agency for Protection from Economic Risks under the Ministry of Economy and Development of Turkmenistan. The document was developed to achieve the economic efficiency of investment projects implemented in the country; make best use of the potential of local construction enterprises; and protect the national economy from potential specific risks. Pursuant to the Decree, the Agency for Protection from Economic Risks under the Ministry of Economy and Development of Turkmenistan must ensure the issuance of conclusions to foreign legal entities, their affiliated branches and representations, as well as to the enterprises with foreign capital, selected as subcontractors to deliver works and services specified in the above-mentioned investment projects.

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