Law on foreign concessions (1993). Country/Territory Turkmenistan Document type Legislation Date 1993 Source FAO, FAOLEX Subject Land & soil, Mineral resources, Water Keyword Concession Foreign land tenure Exploration Surface water Water rights Geographical area Asia, Caspian Sea, Central Asia, CIS (Commonwealth of Independent States), Europe and Central Asia, Landlocked Developing Nations, North Asia Entry into force notes The Law enters into force from the date of its official publication. Abstract 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. Full text English