Turkmenistan develops program of socio-economic development until 2025

Business Materials 16 April 2019 09:45 (UTC +04:00)

Ashgabat, Turkmenistan, April 16

By Huseyn Hasanov– Trend:

Turkmenistan has developed a program of socio-economic development of the country until 2025, aimed at strengthening competitiveness of the national economy, Trend reports with reference to the Neutral Turkmenistan newspaper.

At the same time, special attention was paid to the creation of highly efficient and environmentally friendly processing industries, both export-oriented and import-substituting, as well as the introduction of advanced technologies.

The development of market relations and private business is an important aspect of this program. In particular, the creation of hundreds of small, medium and large industrial facilities, as well as foreign and joint ventures, joint-stock companies, are envisaged in the private sector of the economy.

Free economic zones will operate in Turkmenistan, and privatization of existing state-owned facilities is scheduled.

The Exhibition-Fair and International Conference “Trade and Services – 2019” was held in Ashgabat as part of this program on April 14, said the report. The participants of the forum included representatives of the UN and the European Bank for Reconstruction and Development (EBRD), the Foreign Economic Relations Board of Turkey, Gazprombank Leasing JSC and others.

The event participants discussed issues of increasing trade turnover in domestic consumer markets and modern methods in organizing trade services, Turkmenistan’s export potential and the development of modern banking and stock exchange services, e-commerce and digital services.

During the meetings, the work being carried out by Turkmenistan to enhance cooperation with international financial organizations - the World Bank, the EBRD, the Asian Development Bank (ADB) and the Islamic Development Bank (IDB) was noted.