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Volume of trade turnover in Turkmenistan’s private sector increased

Business Materials 19 April 2021 16:07 (UTC +04:00)
Volume of trade turnover in Turkmenistan’s private sector increased

BAKU, Azerbaijan, April 19

By Jeila Aliyeva - Trend:

The volume of trade turnover in the private sector of Turkmenistan increased by 19.2 percent in 1Q2021, Trend reports, citing the Union of Industrialists and Entrepreneurs of Turkmenistan.

Most of this volume in monetary terms falls on Ashgabat. Also, a good growth of this indicator is in the Mary region – more than 20 percent in 1Q2021.

In the reporting period, the production of pipes made of plastics and fiberglass in the private sector of Turkmenistan increased by 2.3 times compared to the same period in 2020.

The private sector also increased the production of clothing and knitwear – by 2.7 percent, silk fabrics-by 2.2 percent.

The increase in the number of registered new business entities of Turkmenistan for their main type of economic activity amounted to 44.3 percent from January through March 20201, compared to the same period in 2020.

The number of agricultural enterprises increased by 88 percent during the period, while the number of manufacturing enterprises increased by more than 53 percent.

In the private sector of the economy of Turkmenistan, the production of silk fabrics, clothing and knitwear, plastic and fiberglass pipes, mineral water and soft drinks, whole milk products, butter, confectionery, cereals, and some other industrial products increased in the first three months of 2021 compared to the same period last year.

During this period, the flow of funds to the state budget from the private sector of the economy increased by 36.2 percent.

Earlier, Turkmenistan identified measures for the development of the private sector.
In order to develop the private sector, the country designated a list of objects for privatization, including individual state-owned enterprises and a large number of infrastructure facilities.

In addition, the development of the stock market, the creation of market funds, and the organization of specific transactions were identified as the main financial instruments for the development of the private sector in the country.

Investments are also being attracted for the development of the sector.

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Follow the author on Twitter: @JeilaAliyeva

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