Ashgabat, Turkmenistan, April 1
By Huseyn Hasanov - Trend
Private entrepreneurship and investment activity should be stimulated, Neutral Turkmenistan newspaper cited President of Turkmenistan Gurbanguly Berdimuhamedov as saying.
President Berdimuhamedov made the remarks at the meeting with MPs in Ashgabat.
“It is necessary to develop financial-credit and fiscal systems, ensure protection and privatization of property, expand shared construction, the licensing system and production of hydrocarbons,” the president said.
"We should also carry out the necessary work to provide settlements with natural gas, support commodity producers and improve the quality of insurance services," he said.
Modernization of the legislation is also necessary for the work of Turkmen entrepreneurs abroad.
President Berdimuhamedov also considered it expedient to create joint ventures at the expense of foreign investors.
"In this regard, to produce competitive products, we should encourage the establishment of modern enterprises of various forms of ownership with further direct investments, equipped with high-tech equipment, and create the most favorable legal conditions for investors," President Berdimuhamedov said.
Commodity exchange, currency exchange and labor exchange have been created in Turkmenistan. The conditions for free wholesale trade are being created. The goals were set for the establishment of other institutions of the market infrastructure, commodity market, stock market, securities market, information, consultative and audit centers in the country.
Turkmenistan holds one of the key positions in the region in the supply of natural gas. China and Iran are importers of gas.
In its press release, the International Monetary Fund (IMF) stressed in mid-March 2018 that it is very desirable for Turkmenistan to weaken the measures of currency regulation in relation to imports and other current international payments.
Taking into account the amount of the external deficit, it is necessary to consider the need for additional measures, including the exchange rate adjustment and further tightening of fiscal and monetary policy, IMF said.
IMF also stressed that reforms in the real sector should focus on the simplification of administrative procedures and rules, acceleration of reforms, privatization of the state-owned enterprises and attraction of foreign direct investments.