Turkmenistan's Avaza econ zone projects estimated at $1,5 bln.

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ASHGABAT, September 6 (Itar-Tass) - Over fifty companies from twenty
countries have demonstrated their projects at Turkmenistan's exhibition
devoted to the Avaza national tourist zone that is being created in the
Central Asian republic.
The exhibition was organized by the Turkmen Chamber of Commerce and
Industry near the port of Turkmenbashi.
Avaza is Turkmenistan's first free economic zone that is being created
to boost tourism, Turkmen President Gurbanguly Berdymukhamedov said in his
opening remarks to the international exhibition.
The republic's largest project was launched in 2007 and "today it is
estimated at 1.5 billion U.S. dollars," he said. "Investors, domestic and
foreign companies involved in the project get considerable tax incentives.
Time will come when Avaza will seriously compete with the world's leading
tourist brands."
During a three-day exhibition companies from all over the world will
represent their hotel business projects and resort infrastructure. On this
list are Russia's Itera Group, largest private gas trader, and
Vozrozhdeniye, Turkey's Lotus, Belda Insaat and Polimex, Germany's RWE Dea
AG, China's CNPCI and Sinopec, South Korea's LG International Corp. and
Hyundai Engineering, Japan's Itochu Corporation as well as companies from
Ukraine, Iran, Israel, Kazakhstan, the United Arab Emirates, Malaysia and
Austria.
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