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Turkmen private business enter international arena

Business Materials 3 July 2019 11:51 (UTC +04:00)

Ashgabat, Turkmenistan, July 3

By Huseyn Hasanov – Trend:

Entrepreneurs of Turkmenistan actively enter international arena by effectively using the opportunities created by the state, said Saparmyrat Ovganov, Chairman of Union of Industrialists and Entrepreneurs of Turkmenistan (UIET), Trend reports with reference to Neytralni Turkmenistan newspaper.

National Organization for Bar Coding has been created with the participation of the Union of Industrialists and Entrepreneurs of Turkmenistan, he writes in the article published by the newspaper.

"Now, the bar code of products manufactured in Turkmenistan is actively operating on world markets," he noted.

In his words, the first private microbiological laboratory has been set up to conduct independent research on food safety, which is a guarantee of the competitiveness of goods on the external market.

"Further increase in the role of the private sector in the national economy is determined by one of the key areas of Turkmenistan’s program for the socio-economic development of the country for 2019-2025," he said.

Ovganov noted that the state assigns a special role to entrepreneurs in the development of an innovative economy, the creation of high-tech enterprises using local raw materials for the manufacture of import-substituting products, the development of transport and tourism, and the comprehensive integration of Turkmenistan into the global economic space.

Turkmenistan takes measures to intensify the investment activity of small and medium-sized enterprises, the article reads. According to the data for 2018, over 1,015 enterprises, which are members of UIET, operate in the agro-industrial complex. Local companies are focused on the production of a wide range of agricultural and food products.

There are 597 enterprises in the industry, including those for the production of building materials, textiles and carpets, chemicals, metal products, furniture, earthenware, glass products, polyethylene and plastic products that are in demand in the domestic and foreign markets.

The state program of Turkmenistan implies that until 2020, the share of the non-state sector of the economy in gross domestic product should reach 70 percent. Entrepreneurs are allowed to create joint ventures with foreign partners by attracting their investments.

The Union of Industrialists and Entrepreneurs of Turkmenistan uniting more than 20,000 businessmen was formed in 2008.

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