Turkmenistan seeks to stimulate investment activity of private sector
Ashgabat, Turkmenistan, March 15
By Huseyn Hasanov - Trend
The State Program for Support of Small and Medium-sized Entrepreneurship for 2018-2024 was approved in Turkmenistan, the Turkmen government said in a message.
According to the message, the document was worked out jointly with the corresponding ministries, departments and the Union of Industrialists and Entrepreneurs of Turkmenistan.
This program is aimed at increasing the competitiveness of the national economy both at the regional and global levels, intensifying Turkmenistan's export potential, strengthening its food independence and stimulating the productive, innovative and investment activity of the private sector.
The targeted steps are being taken in Turkmenistan to industrialize the national economy, privatize state property, transform state enterprises into joint-stock companies, as well as develop the banking system and the securities market.
Turkmenistan has adopted the corresponding state programs. Moreover, 33 projects are planned to be implemented as part of the program to increase the volume of exports of products produced in Turkmenistan.
Meanwhile, 81 projects are planned to be implemented as part of the program for the production of import-substituting products.
As part of the program, the enterprises will be built to produce construction, chemical, household and other products by using local raw materials. Moreover, the enterprises for the processing and production of various types of meat and dairy products, fruits and vegetables and fish products, are planned to be established.
The program was adopted to strengthen the positive balance of foreign trade turnover, create new jobs, increase the income of the population and gradually increase the share of the private sector of the economy.
Ashgabat set a course for diversification of national economy, resulting in advancements in textile and petrochemical industries, active development of oil and gas chemical industries and building materials production.