Turkmenistan plans to create Ashgabat Stock Exchange
Ashgabat, Turkmenistan, June 28
By Huseyn Hasanov – Trend:
In order to implement Turkmenistan’s state program for developing the securities market, it is planned to create Ashgabat Stock Exchange closed joint-stock company, said the message from Turkmen government.
This issue was discussed during the meeting of the Cabinet of Ministers. A report on the structure, the main shareholders and their shares in the new economic entity was presented to Turkmenistan’s President Gurbanguly Berdimuhamedov.
After hearing the report, the president noted that one of the main tasks of the securities market is to ensure the free redistribution of funds between the sectors and spheres of the market activity.
“A number of practical steps have been taken in recent years in this sphere. These steps will make it possible to increase the sources of funding soon and will facilitate the country’s further prosperity,” said Berdimuhamedov.
Turkmenistan’s president believes that it is necessary to continue work in this sphere and control the timely fulfillment of all the measures reflected in the state program.
The main purpose of these measures is to create an effective method of attracting investments, concentrating capital in one place and its rational redistribution between the economic sectors and economic entities.
In 2014, Turkmenistan adopted the law “On securities market” regulating the relations between the market participants during the issuance and circulation of securities. The regulations on licensing professional activity on the securities market was approved in August 2015.
It facilitates and supports investment making in the priority spheres of production, infrastructure and social spheres, opens up opportunities to make foreign and private investments in the country’s economy.