Textile enterprises in Turkmenistan getting privatized
Ashgabat, Turkmenistan, Sept. 10
By Huseyn Hasanov – Trend:
Some 18 out of the 29 textile enterprises of Turkmenistan planned for transfer to private ownership have already been privatized, Trend reports referring to the country's textile industry ministry.
Work on the privatization of the rest of the facilities is underway.
Facilities to be privatized include facilities requiring reconstruction and modernization, and facilities under construction, as well as unprofitable, inactive enterprises.
In addition, the ministry will focus on continuing the phased radical modernization of physically and morally obsolete enterprises, creating new high-tech complexes in all regions and additional jobs.
The ministry will use its own funds for financing the process. It is planned to reconstruct and modernize 38 enterprises and create new production facilities based on the existing 22 complexes over 7 years. Overall, it is expected that an additional 3,150 jobs will be created in the industry.
In the near future, the range of textile products will be expanded through the establishment of the production of corduroy fabric, various types of non-woven material, including spunbond, spunlace, hollofiber, curtains, synthetic winterizer and fitted carpets.
Along with this, it is envisaged to improve the production technology of artificial leather and haberdashery products, such as lace, zippers, elastic rubber bands and leather belts.
The creation of new industries of various forms of ownership is designed to help increase employment and increase tax deductions to the state budget.