ASHGABAT, Turkmenistan, Feb. 24
By Huseyn Hasanov– Trend:
One of the key aspects of Turkmenistan's socio-economic strategy is the provision of comprehensive support to the development of the private sector, Trend reports with reference to the country's State News Agency.
Increasing the private sector's production of goods and services, as well as boosting the competitiveness of domestic producers in the global market are among its main tasks
About $1.5 billion will be allocated from state funds to the Union of Industrialists and Entrepreneurs of Turkmenistan (UIET) for the construction of the administrative center of the country's Akhal region.
Previously, the UIET allocated a state loan of $2.3 billion for the construction of the Ashgabat-Turkmenabat highway and $600 million for the construction of a mining complex at the Tyubigatan potash deposit in the Lebap region.
The UIET, in accordance with local regulations, is allowed to create joint ventures with foreign partners by attracting their investments.
The UIET has invested $6 billion in the country's economy since its the establishment. Some 23,500 entrepreneurs implemented 2,265 projects during this period.