Turkmenistan - Country Commercial Guide
Market Challenges

Learn about barriers to market entry and local requirements, i.e., things to be aware of when entering the market for this country.

Last published date: 2022-08-08
  • Lack of consistent, transparent business legislation and sanctity of contracts.\

 

  • Laws and regulations are subject to frequent change and contradictory interpretation by various government agencies and officials. 

 

  • The judicial branch operates under direct instruction from the executive. 

 

  • Corruption is pervasive and endemic at all levels of the business stream. 

 

  • Qualified employees, particularly those with English language skills, are scarce. 

 

  • Turkmenistan’s labor force generally lacks knowledge of standard Western business practices. 

 

  • The Agency for Protection from Economic Risks, under the Ministry of Finance and Economy, holds a wide mandate to vet foreign companies before issuing licenses allowing operation in Turkmenistan.  

 

  • 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 exceptionally 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). 

 

  • 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.