Market Challenges
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- The judicial branch operates under direct instruction from the executive.
- Lack of consistent, transparent business legislation and sanctity of contracts.
- Laws and regulations are subject to change and contradictory interpretation by various government agencies and officials.
- Most industry is controlled by the government and communication is slow, as it typically must be conducted via diplomatic notes to the Ministry of Foreign Affairs.
- Corruption is pervasive and endemic at all levels of the business stream.
- Turkmenistan’s business owners and entrepreneurs often lack knowledge of or adherence to standard Western business practices.
- Foreign businesses in Turkmenistan face steep barriers to collecting on bills owed by government ministries.
- Companies face tight foreign exchange controls.
- Turkmenistan’s visa procedures are cumbersome and time-consuming.
- Unreliable Internet access and slow download and upload speeds can hinder business. The Government of Turkmenistan regularly blocks certain mainstream websites and Virtual Private Networks (VPN).