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Turkmen companies to carry out most of construction work

Turkmenistan Materials 2 October 2016 14:29 (UTC +04:00)

Ashgabat, Turkmenistan, Oct. 2

By Huseyn Hasanov– Trend:

Turkmen President Gurbanguly Berdimuhamedov signed a decree. According to the decree, the Turkmen construction companies must fulfill at least 80 percent of the work (excluding the cost of building materials and equipment).

The document applies to the contracts concluded between state agencies and enterprises with foreign legal entities for the construction of buildings and facilities (except for industrial buildings and facilities) and their reconstruction on the territory of Turkmenistan.

President Berdimuhamedov decided to entrust the local private enterprises with construction contracts worth several billion US dollars in early June.

He went on to add that until 2020 the share of non-state economy sector in the volume of gross domestic product must reach 70 percent.

The country’s authorities recommended the entrepreneurs to establish joint ventures with foreign partners by drawing their investments.

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