Turkmenistan Assignment  

  IDB-Turkmenistan-Malaysia Project
   
 
Project Expert, IDB Technical Assistance Project for Turkmenistan - IDB Mission in Project financing training & consulting for staff of The State Bank for Foreign Economic Affairs (TFEB), Ashgabad.
On a secondment-cum-official duty attachment to IDB for a Tripartite Mission, as Project Expert, in Project Financing training & consulting for staff of TFEB, Ashgabad. Assisted The Bank in project appraisals and consulting in several Presidential decree projects for international tenders/ joint ventures. The industrial projects include:
  • US$1.7 bil. Modernization of the Turkmenbash Refinery;
  • Ammonia-Urea Fertilizer Plant at Chardzhou-Seidi FEZ;
  • Aluminium Plant at Mary-Bairamaly FEZ;
  • Paper/Pulp Plant at Buizmen-Annau FEZ;
  • Potassium Sulphate Plant at Bekdash/Kara Bogaz Gol; and
  • Waterproofing Materials Plant at Buizmen-Ashgabat FEZ.
 
 
State Visit by Turkmenistan's President Niyazov
to Malaysia (1994). President Niyazov is seen here
with our Yang di-Pertuan Agong and Consort.
  Turkmenistan's own currency floated since her independence from the now defunct
Soviet Union. The exchange rate hovers around 5,400 manats/US$ just before the
Russian crisis!
 
In front of Lenin's statue. The assignment was to
train The Bank's staff to understand the workings
(and abuses) of a free market economy. Here I am
trying to convert the practice of a centrally
planned (Marxist) economy to capitalism!
Grappling with a hyperinflation transition
economy is not an easy task!
  The result of the Asian economic contagion? The immediate effect of the Russian
crisis saw the rubble plunging ...... causing panic selling of the manat at almost all
exchange offices nationwide. This scene was taken right in front of The State Bank for
Foreign Economic Affairs in Ashgabat. Street market rates jumped to around 6,000
manats/USD!

The security card used while with TFEB,
Ashgabat
 
  The supervising TFEB officials:
Mr Alexander Cherepnev and
Mr Mamedov, of the Project Financing
Department. Mr Cherepnev is the one of
the Deputy Chairman of the TFEB Board.
     
  Reports & Publications Written During the Assignment
 
Arifin Abdul Latif, 1998a. ‘A Practical Guide for Financial & Economic Analysis of Industrial Projects (Using MS Excel Application Template): A Case Study on the Proposed Ammonia-Urea Fertilizer Complex Plant at Chardzhou"; TFEB, Ashgabat, 10 June; 22 p.
Arifin Abdul Latif, 1998b. "A Practical Guide for Financial & Economic Analysis of Industrial Projects (Using MS Excel Application Template): A Case Study on the Proposed Aluminium Plant at Mary"; TFEB, Ashgabat, 19 June; 22 p.
Arifin Abdul Latif, 1998c. "A Practical Guide for Financial & Economic Analysis of Industrial Projects (Using COMFAR III Expert software): A Case Study on the Proposed Ammonia-Urea Fertilizer Complex Plant at Chardzhou"; TFEB, Ashgabat, 30 June; 47 p.
Arifin Abdul Latif, 1998d. "Modernization of the Turkmenbashi Refinery: Project Appraisal (Market, Financial & Economic Analysis), Conclusion & Recommendations; Ashgabat", 3 Sept. 1998; 142 p. (Confidential document).
Arifin Abdul Latif, 1998e. "Final Report on Project Financing Training & Consulting for the Staff of The State Bank for Foreign Economic Affairs (TFEB) of Turkmenistan"; TFEB, Ashgabat, 14 Sept. 1998; 33 p. (Confidential).