Turkmenistan to begin process of developed securities market formation by 2015
Turkmenistan, Ashgabat, August 11 / Trend H. Hasanov /
According to Turkmenistan's socio-economic development program, till 2015 the country will begin developed securities market formation, the Turkmen media outlets report.
In the short term (2011-2015 years) it's envisaged to deepen market reformation of economy based on equitable development of different forms of ownership.
At this stage, regulatory and legal framework of different forms of ownership will be improved, bases of privatization and transformation in other forms of ownership of state enterprises of light industry, food industry, services, trade, carrying out economic activity in the external and internal markets, will be developed.
According to the "Neutral Turkmenistan" newspaper, it's planned to privatize technologically outdated small and medium-sized enterprises by selling them at auctions, as well as the use of the mechanisms of trust management, corporatisation and corporate management of large enterprises.
Another direction of institutional changes are expansion of foreign investment, creation and development of joint ventures.
The second phase (2016-2020 of implementation of a national program envisages the creation of corporate companies in construction, production of construction materials and in other fields.
The third phase (2021-2030) will be characterized by the deepening of adaptation of new enterprises to market conditions, intensive development of internal and external markets.