Reliable Support of National Economy

3 February 2023

One of the priority areas for deepening economic reforms conducted in Turkmenistan under the leadership of the esteemed President Serdar Berdimuhamedov is to encourage entrepreneurship. It has a significant role to play in modernising and diversifying the sectors of the national economy, increasing production and expanding the range of competitive product, achieving food abundance and enhancing the export potential of the country.

Entrepreneurship is one of the leading sectors that largely determines the economic growth, the employment level and the structure and quality of the gross national product. Its development corresponds to global trends towards the formation of a flexible mixed economy, a combination of different forms of ownership and an adequate economic model, which allows synthesising a competitive market mechanism and state regulation of large-, medium- and small-scale production. World practice convincingly shows that, small-scale business has a significant impact on economic development and contribute to solving social problems and increasing the number of employed workers even in developed market economies. Small businesses in some countries play a leading role in terms of the number of employees, the volume of goods produced and sold, work performed and services rendered.

Head at the Department, Directorate of the Study of Commodity Circulation in Internal and External Markets, Ministry of Trade and Foreign Economic Relations of Turkmenistan Photo: Hasan MAGADOV