Ashgabat, Turkmenistan, Jan. 27
By Huseyn Hasanov – Trend:
Turkmen President Gurbanguly Berdimuhamedov said that it is necessary to give more freedom to entrepreneurs and accelerate the work on transformation of state facilities into joint-stock companies and their privatization.
He made the remarks at an expanded government meeting, the Neutral Turkmenistan newspaper reported Jan. 27.
The president instructed heads of the relevant agencies to develop state programs to support entrepreneurship and submit them to the Cabinet of Ministers for consideration in the near future.
During the meeting, a “Resolution on Issues of State Commission for the Support of Small and Medium-Sized Enterprises in Turkmenistan” was signed.
In March 2017, the IMF (International Monetary Fund) said in its report that in the challenging external environment, maintaining strong, sustainable, and inclusive growth for Turkmenistan will require improvements in the business and regulatory environment to support further private sector development.
Effective implementation of reforms of state-owned enterprises and privatization, greater efficiency of public spending, and continued focus on social protection and human development outcomes will be also required for Turkmenistan, according to the report.
The authorities have been adjusting their strategy to the new reality of lower hydrocarbon prices, the report said.
Turkmenistan ranks fourth in the world in terms of the volume of natural gas reserves, according to BP. Presently, the country is able to export natural gas to China and Iran with the possibility of increasing the supply volume. This is while Russia has suspended the purchase of Turkmen gas.