Law on foreign concessions (1993).

The present Law shall define organizational, economic and legal terms and conditions of foreign concessions in Turkmenistan. A concession shall provide for the right given by the state to a foreign legal entity or a natural person – a concessionaire – to use plots of land, natural resources, enterprises and other assets on the basis of an agreement for a specified period of time and in return for a payment. Concession activity in Turkmenistan is carried out in accordance with the following principles: rational use of natural resources, ensuring ecological, sanitary and hygienic safety. The objects of concession shall be: a) plots of land and territories with their natural resources; b) water surfaces with their natural resources; c) single deposits of natural resources; d) industrial objects intended for exploration, development, production or exploitation of natural resources. The Law consists of 3 Sections that contain 20 articles. Section 1 (arts. 1-6) lays down general provisions. Section 2 (arts. 7-14) regards the establishment and activity of concession enterprises. Section 3 (arts. 15-20) deals with regulation of concession relations.