Turkmenistan to privatize state-owned enterprises in 2013-2016

Turkmenistan to privatize state-owned enterprises in 2013-2016

Turkmenistan, Ashgabat, Nov. 17 / Trend H. Hasanov /

Turkmen President Gurbanguly Berdimuhamedow has approved the draft of the 'State programme for privatization of state enterprises and state property in 2013-2016', the Turkmen government said on Saturday.

The document was developed at his request, and identifies the main goals, directions, methods and procedures for the privatization of state property, as well as organizational measures and deadlines.

Implementation of this programme is scheduled in three phases, the first of which is planned for 2013, the second - in 2014-2015, and the third - in 2016.

Privatization of state enterprises in various industries, in construction, transport, communications, and the creation of developed infrastructure of corporations is planned within the programme.

In addition, the strategic objects of national importance have been identified which are not subject to privatization. Their list has been prepared.

According to this programme, it is planned to develop a new law "On denationalization and privatization", as well as preparation of other relevant laws, regulations and manuals.

At the government meeting, Berdimuhamedow emphasized the importance of the next step in the successful implementation of strategy for modernization and development of national economy in terms of its gradual transition to market relations and active integration of the country into the modern world economic system.

"Head of the state noted that privatization will contribute to further enhancement of the Turkmen economy's competitiveness, efficiency and profitability of industrial production, as well as the dynamic development of private entrepreneurship in the country, which, in turn, will have favorable impact on the welfare of the Turkmen people" the information stated.

A number of important laws 'On the Central Bank', 'On Credit Institutions and Banking', 'On microfinance institutions and microfinance', 'On credit unions', 'On currency regulation and currency control in foreign relations', 'On creation of the State Development Bank of Turkmenistan' were adopted to improve the investment climate in Turkmenistan.

Turkmen Institute of Strategic Planning and Economic Development has previously noted in its report that the practice of foreign countries shows that the identification of new opportunities through the extensive privatization of state property and regional integration as well as free trade policies will increase the inflow of foreign investment.

The State Programme on development of the securities market in Turkmenistan in 2012-2016 was adopted in November 2011

"The stable political situation, the adopted long-term social and economic programs implemented in the whole country and separately in each region, high rates of economic growth and stability of the national currency, a powerful resource and resource base, relatively inexpensive labor provide an attractiveness and efficiency for foreign investors, guarantee efficiency of invested capital," the experts of the institute stated.
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