Ashgabat, Turkmenistan, Aug. 26
By Huseyn Hasanov – Trend:
The Turkmen Union of Industrialists and Entrepreneurs has invested about $5.5 billion for 10 years of its activity, of which $2 billion have been invested in the agro-industrial complex, Trend reports referring to Turkmen Dovlet Khabarlary state news agency.
More than 150,000 new job places were created as a result of the implementation of these projects. This statement was made during a business forum dedicated to Turkmen President Gurbanguly Berdimuhamedov’s state visit to Singapore (August 26-27).
The Union of Industrialists and Entrepreneurs unites 23,000 representatives of the private sector, operating in many sectors of the economy. A business school, a trading house, a directorate for construction facilities, as well as its own Rysgal bank operate under the Union of Industrialists and Entrepreneurs.
A political party consisting of industrialists and entrepreneurs, represented in the national parliament, has been created. The Union of Industrialists and Entrepreneurs has representative offices in Beijing, Dubai and Vienna. Moreover, trading houses have opened under the auspices of the Union of Industrialists and Entrepreneurs in Kyrgyzstan, Georgia, Afghanistan and China. Private agricultural producers are exempt from taxes. They have been provided with land plots for a long-term free of charge, as well as preferential loans.
As a result, the share of the private sector in the gross domestic product, excluding the fuel and energy complex, amounted to 64 percent in 2018. The production activity of the Union of Industrialists and Entrepreneurs also covers the chemical industry, which is developing on the basis of the country's mineral resources.
Big enterprises producing such chemical products as high-quality iodine, synthetic detergents, disinfectants, edible salt, paints, construction adhesives, waterproofing materials, aerated concrete slabs and others, which are also supplied to the foreign countries, have been built.
The Union of Industrialists and Entrepreneurs is working on the implementation of projects for the construction of plants for the production of potash fertilizers (potassium chloride and potassium sulfate), complex fertilizers, carbon black and ethyl alcohol.
The investment projects are being developed for the production of caustic and calcined soda, chlorine, hydrochloric acid, sodium sulfate, cement and other chemical products from local natural mineral resources.
A promising sphere for cooperation in the chemical industry is the creation of enterprises for the production of liquefied gas, carbamide, ammonia and graphite electrodes.
There are attractive projects in the field of heavy industry, metallurgy and gold mining. The work is also underway in the development of electronics and power industries. The entrepreneurs began to produce the domestic e-payment terminals and computers, tablets, routers. The Turkmen Logistics Association has been established under the auspices of the Union of Industrialists and Entrepreneurs.