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Turkmenistan privatizing number of facilities to increase private sector's share in economy

Business Materials 30 October 2020 14:43 (UTC +04:00)
Turkmenistan privatizing number of facilities to increase private sector's share in economy

BAKU, Azerbaijan, October 30

By Jeila Aliyeva - Trend:

Some 9 multi-level parking lots of the municipal administration of the city of Ashgabat and a poultry farm of the Ministry of Agriculture and Environmental Protection of the country are being privatized in Turkmenistan, Trend reports with reference to Turkmenistan’s State News Agency.

The relevant decree was signed by President of Turkmenistan Gurbanguly Berdimuhamedov.

Privatization will take place through direct (targeted) sales following the established procedure to members of the Union of Industrialists and Entrepreneurs of the country, with the condition of preserving the main profile of their activities and jobs.

The privatization will be implemented to develop market relations, increase the share of the private sector in the economy, promote the development of small and medium-sized businesses, further effective organization of trade and services, as well as following the law of Turkmenistan on denationalization and privatization of state property.

Turkmenistan periodically conducts auctions for the sale of state property.

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Follow the author on Twitter: @JeilaAliyeva

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