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Turkmenistan adopts law on free economic zones

Turkmenistan Materials 10 October 2017 10:07 (UTC +04:00)
Turkmenistan’s President Gurbanguly Berdimuhamedov signed the country’s Law “On Free Economic Zones” on Oct. 10.
Turkmenistan adopts law on free economic zones

Ashgabat, Turkmenistan, Oct. 10

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Turkmenistan’s President Gurbanguly Berdimuhamedov signed the country’s Law “On Free Economic Zones” on Oct. 10, a source in the Turkmen government said.

The country is implementing program measures to modernize, diversify and strengthen the export potential of the national economy.

Big investments are allocated for the development of oil and gas sector, agro-industrial complex, high-tech industries that produce competitive goods for world markets, and the formation of developed transport, information and communications infrastructure.

The Turkmen state supports the development of small and medium businesses.

Important aspects of the state economic policy are international cooperation, large-scale financing of the most important national and international projects by domestic resources, as well as attraction of foreign investments to the country, establishment of long-term mutually beneficial relations with business circles of the world, including the introduction of innovative resource-saving technologies, advanced achievements of management and marketing.

The new law determines the legal, organizational and economic basis for the creation, functioning and liquidation of free economic zones in Turkmenistan.

“The new law will give a new momentum to the development of national economy, help to increase the investment attractiveness of Turkmenistan,” reported the Turkmen Dovlet Habarlary state news agency.

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