Ashgabat, Turkmenistan, Nov. 24
By Huseyn Hasanov- Trend:
The Majlis (Parliament) of Turkmenistan at its regular meeting has adopted the draft law "On property", which defines forms of ownership, legal and economic framework of property relations in the country on the basis of the national Constitution, said the message of the government of Turkmenistan.
The draft law is aimed at developing property relations, ensuring safety and protection of property rights on possession, use and disposal of property by its owners.
It is legislatively supported in the legal act adopted by the Majlis of Turkmenistan that the country recognizes private and public ownership, ownership of joint ventures, public associations and other types of property, as well as integrity, equal protection and equal conditions for the development of all forms of ownership are guaranteed.
It was earlier reported that Turkmenistan is preparing a draft of the investment program of the country for 2016.
President of Turkmenistan Gurbanguly Berdimuhammadov said at the Cabinet meeting that in the investment program it is necessary to provide a package of measures to ensure the smooth construction of major facilities for the processing of hydrocarbon resources, the development of processing industry on the basis of enterprises of different types of property.
Turkmenistan has been gradually passing to a market economy which is reflected in the updated Constitution. At this stage, the country is creating regulatory framework, commodity, currency exchange, as well as labor exchange were formed, conditions for free wholesale trade are being created.
In addition, the country has set the goal to create other institutions of market infrastructure as well, institutions of commodity market, stock market, securities market, information, advisory and audit centers. A number of activities such as the national currency denomination and the unification of exchange rates were conducted in Turkmenistan.