Turkmenistan aims to diversify economy

Business Materials 25 September 2018 12:26

Ashgabat, Turkmenistan, Sept. 25

By Huseyn Hasanov – Trend:

President Gurbanguly Berdimuhamedov has summarized the results of the country's economic development at a meeting of the People's Assembly (Parliament) of Turkmenistan Sept. 25, outlining its promising directions, state news agency "Turkmen Dovlet Khabarlary" reported.

The head of state has attached an important role to the electric power industry in strengthening the industrial and export potential of the country.

He noted that seven powerful modern power plants have been built in the regions and in the capital – Ashgabat during the years of independence. One of them - a combined-type power plant-was recently put into operation in the city of Mary. The fundamental changes have affected the construction industry.

The enterprises for the production of glass and articles made of glass have been put into operation in Akhal region. Speaking about the gradual transition of the country to "green" economy, the head of state noted the widespread use of environmentally friendly and energy-saving technologies.

President Gurbanguly Berdimuhamedov also stressed that the chemical industry have been created in the country from scratch. The enterprises on production of mineral fertilizers have been constructed, the range of chemical products have been expanded.

In this context, such examples were announced as the plant for the production of potassium chloride with a capacity of 1.4 million tons per year built in Lebap region, the plant for the production of 400,000 tons of ammonia per year put into operation in Mary velayat.

The construction of a new urea plant with a capacity of 1.155 million tons per year has been completed in Garabogaz city. Currently, the construction of a number of enterprises for the production of iodine, bromine and products made of them is being carried out at an accelerated pace. As a result, the volume of technical iodine production will increase significantly.

"Transformations carried out in the light industry are aimed at filling the domestic market with high-quality products of own design and increasing the volume of exports by improving the competitiveness of domestic products," Gurbanguly Berdimuhamedov said.

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

Turkmenistan, trying to overcome the currency deficit, is looking for new gas export routes and conducts a large-scale diversification of the economy. At this stage, the industries of textiles, petroleum products have advanced, the oil and gas chemical industry, the industry for the production of building materials are actively developing.