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Turkmenistan preparing investment program on socio-economic development

Business Materials 18 September 2018 10:00 (UTC +04:00)

Ashgabat, Turkmenistan, Sept. 18

By Huseyn Hasanov– Trend:

Turkmenistan is preparing a draft socio-economic development program for 2019-2025, the Neutral Turkmenistan newspaper reported.

This topic was raised during the last meeting of the government.

This document provides for the adoption of effective steps aimed at attracting foreign investments and their effective use, full use of all opportunities for further dynamic growth, transition to e-document management and the digital economy, according to the report.

In short term, it is also planned to implement a set of measures to increase the value of exports of domestic products and import substituting goods, continue the formation of the electronics industry, privatization of state property and the development of the non-state sector of the economy.

It is expected that this program will also become an action plan and will include projects in the fields of industry, energy, foreign trade, education, healthcare, agriculture and tourism.

The formation of an innovative, high-tech, competitive digital economy, a well-functioning electronics industry, growth of the industrialization index and the development of market relations will help to improve the welfare of the population, Turkmen President Gurbanguly Berdimuhamedov said during one of his speeches.

Turkmenistan, according to the British Petroleum (BP) report, ranks fourth in the world in terms of natural gas reserves and at this stage exports it to China and Iran.

At this stage, the industry of textiles and petroleum products has advanced, and the oil and gas chemical industry and the industry for the production of building materials are actively developing in Turkmenistan.

Turkmenistan is carrying out industrialization aimed at increasing the production of import-substituting products and the development of exports.

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