Private business share in GDP must grow by 2020

Business Materials 12 July 2011 16:48 (UTC +04:00)

Turkmenistan, Ashgabat, July 12 / Trend H. Hasanov /

The non-state sector's contribution to the Turkmen economy must hit 70 percent of the GDP by 2020, the Neutral Turkmenistan newspaper reported.

The article added that the institutional and legal basis of the state-private partnership, small and medium business is improved in the country.

The recently adopted law on the "Turkmen Union of Industrialists and Entrepreneurs" is an important step in this direction.

This is not the first law aimed at supporting and developing entrepreneurship in the country, which has been recently adopted.

The National Parliament adopted the Law "State Support of Small and Medium Entrepreneurship" in August 2009.