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Turkmenistan focuses on stimulation of investment activity, privatization

Finance Materials 8 February 2019 11:03 (UTC +04:00)

Ashgabat, Turkmenistan, Feb. 8

By Huseyn Hasanov – Trend:

President of Turkmenistan Gurbanguly Berdimuhamedov focused on the adoption of new laws aimed at stimulating investment activity and privatization during the recent meeting with the MPs, Trend reports referring to the Turkmen government.

The president outlined the key vectors of the parliament’s activity for the formation of the legal framework for the implementation of the program of socio-economic development of the country in 2019-2025.

In particular, the parliamentarians focused on the need to improve existing and adoption of new laws aimed at improving the efficiency of industries in terms of the market economy, supporting entrepreneurial initiatives of citizens, encouraging investment activity, privatization and transformation of state facilities into joint-stock companies.

The laws envisaging the creation of favorable investment, legal, financial and other conditions should be improved to attract both foreign and domestic investments, encourage the creation of high-tech enterprises capable of producing competitive products.

Speaking about the importance of the Private Entrepreneurship Development Program, the president stressed the need for coordinated work of the enterprises operating in the sectors of the national economy and the non-state sector of the economy.

“It is time for the preparation of a law on public-private partnership,” the president said. “The work on the modernization of the national legislation governing banking activity, taking into account the expansion of the range of banking services, should be continued.”

Turkmenistan intends to increase gross domestic product (GDP) up to 6.3 percent in 2019 and up to 8.2 percent by 2025.

By this time, the share of industry in the structure of GDP must reach 33.8 percent, agriculture - 8.9 percent, construction - 11.5 percent and service sector - 45.8 percent.

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