Turkmenistan working to stimulate venture financing of startups

Business Materials 8 July 2021 14:14 (UTC +04:00)
Turkmenistan working to stimulate venture financing of startups

BAKU, Azerbaijan, July 8

By Jeila Aliyeva - Trend:

Turkmenistan is working to stimulate venture financing of startups, Trend reports with reference to the Union of Industrialists and Entrepreneurs of Turkmenistan.

To achieve this goal, a new 'business opportunities for mentoring and investment project' has been launched in the country.

The project was launched by the Union of Economists of Turkmenistan and is being implemented within the framework of the program on creating an ecosystem for startups in 2021 with the support of two projects of the United States Agency for International Development (USAID).

Turkmenistan is implementing tasks to increase the share of the private sector, expand market relations, privatize state-owned enterprises, develop small and medium-sized businesses, ensure an abundance of goods in domestic markets, provide access to services, as well as create new jobs.

As a result of the support of domestic producers, the number of goods and services that meet the needs of people is constantly increasing.

Thus, the program to increase the volume of export products includes 33 projects, including the construction of production enterprises in the light, food, pharmaceutical, transport and communication industries, in mechanical engineering and agriculture.

The program for the manufacture of import-substituting products includes 81 projects, including construction materials based on local raw materials, chemicals, household chemicals, processing of agricultural products, fish and fish products, vegetables and horticulture.

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