NEWS

Entrepreneurship as a key market segment

The development of entrepreneurship is a priority direction of the economic policy of Turkmenistan, and due to the comprehensive support of the head of state, entrepreneurs play an important role in the implementation of socioeconomic reforms in the country. Currently, businessmen are successfully working in various spheres, including industry, agriculture, construction, trade, the production of textile, chemical and food products and consumer services, they are engaged in various other activities, showing their best business qualities. Turkmen business continues to steadily increase its capabilities. And this is facilitated not only by the expansion of capacities, but also by the improvement of their innovative component. Due to the initiatives of the esteemed President, small and medium-sized businesses today have taken a decisive place in the country’s economy and have become the main source of saturating the market with necessary goods and services, increasing the incomes and welfare of the population and an important factor in solving problems of the employment of the population. It should be noted that all these measures are being taken in line with the consistently implemented State programme to support small and medium-sized businesses for the period until 2024, aimed at ensuring the high rates of economic growth and social progress in Turkmenistan by stirring up the

12 June 2021

Entrepreneurship

Univer­sal Lo­gis­tics Ope­ra­tor of Turk­me­nis­tan

The mar­ket of trans­port and lo­gis­tics services in Turk­me­nis­tan is develo­ping dai­ly and at an accele­ra­ted pace. No­wa­days it is im­pos­sib­le to ima­gi­ne the mo­dern world wit­hout fast de­livery of goods. Due to the well-es­tab­lis­hed lo­gis­tics chains, car­goes move bet­ween cities and con­ti­nents wit­hin the shor­test pos­sib­le ti­me. Recent­ly es­tab­lis­hed, a mo­dern trans­port and lo­gis­tics com­pa­ny Ter­ne Lo­gis­tics provides a full ran­ge of services for the de­livery and sto­ra­ge of car­go from ot­her cities and fo­reign count­ries at the op­ti­mum price. The com­pa­ny al­so specia­li­ses in the trans­por­ta­tion of bulk car­goes, car­ries out mul­ti­mo­dal trans­por­ta­tion, which is why it is well-known in the mar­ket of trans­port and dis­patching services. The or­ga­ni­sa­tion’s he­ad of­fice is located in Ash­ga­bat.

8 May 2021

Entrepreneurship

Quality Products for Export

In the year passing under the motto “Turkmenistan – the Home of Peace and Trust”, in honour of the 30th anniversary of the Independence of the Motherland, the number of modern enterprises built by private manufacturers is increasing day by day. Thus, Batly Gadam, a private enterprise from Balkanabat, specialising in the production of socks and yarn, due to the use of the most advanced equipment increases the volume of exports with every passing year.

8 May 2021

Entrepreneurship

Components of Successful Business

Due to the comprehensive state support, the potential of small and medium-sized businesses in the Dashoguz velayat and also throughout the country is noticeably growing. Successful entrepreneurs, showing initiative and fulfilling the important tasks of increasing production and improving the quality of domestic products, make a significant contribution to Turkmenistan’s economic growth. In recent years, entrepreneurial activity in the agricultural sector of the region, which is one of the crucial factors in saturating local consumer markets with vegetables and fruit, has expanded significantly. For example, farmers’ associations and private agricultural producers, including the members of the Dashoguz velayat branch of the Union of Industrialists and Entrepreneurs of Turkmenistan, received a large number of plots from the special agricultural land fund for long-term use to grow various food crops. An increasing number of farmers prefer growing potatoes.

3 April 2021

Entrepreneurship

Domestic Businesses: Achievements and Frontiers

An annual exhibition and conference of the Union of Industrialists and Entrepreneurs of Turkmenistan (UIET) that is held each year on March 17 to mark an anniversary of the organisation is taking place at the Exhibition Centre of the Chamber of Commerce and Industry. This year the Union is celebrating its 13th anniversary. The economic strategy developed by the leader of the nation and the active and effective state support have given the private sector of the national economy a powerful impetus to develop. The representatives of the private sector in the country has rapidly increased in number, making a worthy contribution to the implementation of the national socioeconomic development programmes. Through all these years, the state and the President of Turkmenistan have been supporting small, medium-size and large-scale businesses, stimulating entrepreneurial initiative and promoting the growth of high-tech enterprises.

19 March 2021

Entrepreneurship

Entrepreneurship: at a New Stage of Development

The main goal of the economic strategy of the President of Turkmenistan is to create the society-centred market economy, to develop a highly efficient system with effective entrepreneurship and a modern market infrastructure that provides social guarantees to all segments of the population and to build a highly competitive national economy capable of ensuring the stable long-term progress of the country. In this regard, the priority aspects of the national economic policy include the encouragement of entrepreneurial activity and support of small business. Entrepreneurship in a developed market economy is a key market segment, as it serves as a catalyst for economic growth. Firstly, this is due to its ability to adapt quickly to new market requirements and sustaining competitiveness consequently. Secondly, SMEs are capable of offering employment to the population on a par with large-scale enterprises. Thirdly, unlike large-scale enterprises, business entities, due to their mobility, can immediately adopt advanced technologies and innovations. Thus, small businesses, as the most massive form of entrepreneurial activity, are capable of tackling such issues as involving a significant number of the population into active economic activity, expanding a competitive environment, weakening monopolisation, reorienting small-sized businesses to produce scarce commodities and services, fil

29 January 2021

Entrepreneurship

The wonderful buildings of the «Belent jay» company

The esteemed President of Turkmenistan Gurbanguly Berdimuhamedov says, «Businessmen are the gold fund of our country». During the period of transition of our state to market relations these words are deserved appraisal given to businessmen. Really, during the Epoch of Prosperity of the Powerful State about 70 per cent of produced domestic products belong to the members of the Union of Industrialists and businessmen.

10 November 2020

Entrepreneurship

Entrepreneurship of Turkmenistan: new stage of development

Over the past decade, interest in the problem of the competitiveness of the domestic economy has significantly increased in our country. According to the economic strategy of the esteemed President, the ensuring of bringing the economy to a new level of development is possible only in the course of the large-scale modernisation of the entire economic system. In this regard, one of the priority tasks of the state economic policy was the creation of the best conditions for the development of entrepreneurship and the expansion of public-private partnerships. The development of entrepreneurship is an important factor influencing the growth of the country’s economy and increasing the welfare of the population. In Turkmenistan, systematic work is carried out on an ongoing basis to improve the business climate and support entrepreneurship. Due to these measures, small and medium-sized businesses are developing dynamically in the country. Historical experience shows that the role of the state in the economy, the nature and methods of its participation are constantly changing. Currently, the state is a direct participant in economic relations. The growing demand for the provision of public services and infrastructure requires from the state to implement numerous socioeconomic projects. In such conditions, the issue of finding new forms and ways of influencing the economy become

18 September 2020

Entrepreneurship

Nob­le and Ele­gant “Fab­ric of Kings”

In accor­dance with the tasks set by Pre­si­dent Gurbanguly Ber­di­mu­ha­me­dov for the develop­ment of the texti­le in­dust­ry of Turk­me­nis­tan, the en­terp­ri­ses of the in­dust­ry, supp­lied with high-tech equip­ment, are stea­di­ly increa­sing the as­sort­ment and pro­ducti­on volu­mes of high-qua­li­ty Turk­men texti­les from na­tu­ral cot­ton and silk. Pan­ne velvet fab­ric is in special de­mand among Turk­men peop­le. Ele­gant and luxurious, it high­lights the unique beau­ty of our wo­men’s na­tio­nal cos­tu­me. Pan­ne velvet is a ty­pe of velvet. On­ly the warp of it is trans­pa­rent or trans­lucent. “Pan­ne velvet” in trans­la­tion means “the fab­ric of kings”, because it looks expen­sive and ele­gant. This is not surp­ri­sing, the fib­res of the fab­ric are flat­te­ned in one di­recti­on, and al­so the pi­le for­ming the pat­tern is iro­ned in one di­recti­on, and then it is expo­sed to a hot press. Due to this, the pat­tern is slight­ly glos­sy.

4 September 2020

Entrepreneurship

Agroindustrial Sector: New Milestones of Growth

With the aim of at improving the people’s welfare and quality of life through achieving food abundance and the diversity of competitive high-quality food products in the consumer market, large-scale reforms are being implemented under the wise and farsighted leadership of the President of Turkmenistan. The ongoing agricultural reforms ensure the resistance of the national economy to external risks, allow minimising the effects of unfavourable external factors, enable to maintain high rates of GDP growth, increase agricultural output and raise investments in this sector. In accordance with the National Rural Programme, investments amounted to 1.3 billion manats have been used in the country over the past six months; large-scale measures are being implemented to optimise the activities in the agroindustrial complex and effective steps are being taken to modernise and intensify the agricultural sector, to boost soil fertility, to purchase innovative equipment from the world’s biggest manufacturers and to provide the sector with mineral fertilisers. Much attention is also paid to building agro-processing enterprises, adopting new technologies, introducing science advances to increase crop yields, promoting selective breeding, training specialists and improving the working and living conditions of farmers.

31 July 2020

Entrepreneurship