Turkmenistan conducts phased privatization

Economy Materials 13 March 2019 09:40 (UTC +04:00)

Ashgabat, Turkmenistan, Mar. 13

By Huseyn Hasanov – Trend:

A discussion of the privatization of state-owned enterprises took place at the Union of Industrialists and Entrepreneurs of Turkmenistan (UIET), Trend reports referring to UIET.

The parties focused on issues regarding the privatization of state enterprises and the creation of business structures on their basis, as well as the staffing of private sector production.

Moreover, the subject of legislative support through concessional lending, exemption from taxation, the implementation of projects for the intensive development of plant growing and animal husbandry were also touched upon, the information says.

According to data provided by the UIET, industrial production in January-February 2019 increased by 15.8 percent, and agricultural and food production by 3.9 percent.

The Turkmen Parliament is preparing a law on public-private partnership. Among the priority tasks are the support of entrepreneurial initiatives of citizens, stimulation of investment activity, privatization and transformation of state-owned objects into joint-stock companies.

The creation of legal conditions for attracting entrepreneurs to agricultural production is regarded as one of the most important tasks.

Uniting more than 20,000 businessmen, the UIET was formed in 2008. The share of the private sector of the economy in the gross domestic product (GDP) of Turkmenistan, excluding the fuel and energy complex, is currently at more than 60 percent.