Turkmenistan actively promoting growth in private sector - US Embassy

Turkmenistan actively promoting growth in private sector - US Embassy

BAKU, Azerbaijan, May 24

By Jeila Aliyeva - Trend:

Small and medium sized enterprises are essential for the continued expansion and success of the private sector in any economy and Turkmenistan is actively promoting growth in the private sector, Stephen Guice, Public Affairs Officer of the US Embassy in Ashgabat told Trend.

Turkmen companies are expected to join and benefit from USAID supported webinars, he noted.

Guice added that on April 6, 2021, USAID supported a webinar designed to assist Small and Medium Enterprises (SMEs) in Central Asia to become active participants in e-commerce. The goal of the webinar was to share best practices in e-commerce for the sellers from Central Asia.

"It is expected that the SMEs will use this knowledge to transform their businesses and to use these e-commerce platforms to sell their products locally, regionally, and globally," he noted.

According to him, next steps include: webinars with independent experts and specialists from large international companies (VTEX, PayPal, UPS, DHL, eBay). Representatives of these companies will share their experience in Internet marketing, e-commerce, electronic payments, accounting, cash flow management etc.

As earlier Guice told Trend, to increase the competitiveness of Turkmenistan’s economy, USAID supported a start-up ecosystem program.

"The program worked with six local mentor companies that offer startup incubation and acceleration services. These mentor companies hosted a total of 122 entrepreneurs and helped develop their innovative business ideas and products. In addition, USAID created a platform that assists aspiring entrepreneurs in understanding startup entrepreneurship and to master skills through learning, practicing, and collaboration," said Guice.

Also, to raise awareness about the importance of international standards and to train a pool of local experts, since 2017 USAID supported over 20 ISO training sessions and export promotion webinars for hundreds of representatives from local consulting companies and food producers in Turkmenistan.

In addition, Guice said that USAID Enables Turkmen Exporters to Access New Markets. Thus, Since 2019, USAID has partnered with Ter Onum, a Turkmen company specializing in wholesale import and export. USAID provided Ter Onum with training and support to arrange for and send a trial shipment of melons to Austria.

USAID’s assistance to develop the private sector and increase its competitiveness is bearing fruit, boosting exports, and expanding access to new markets for Turkmen products, thus diversifying Turkmenistan’s economy.

Furthermore, USAID supports Turkmenistan’s economy to meet local market needs and increase commercial ties with western countries.

"USAID co-invested in the automation of Shaylan’s (a company, operating large warehouses and a fleet of refrigerated trucks) logistics management by utilizing cutting-edge Enterprise Resource Planning (ERP) systems. The ERP systems will help not only increase the company’s annual revenues by 30 percent but also be available as a service for logistics companies across the country. Through this intervention, USAID is introducing new and modern technologies to strengthen supply chains that will enable Turkmenistan to increase its exports and diversify its economy," concluded Guice.


Follow the author on Twitter: @JeilaAliyeva

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