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.

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.

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

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.

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

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.

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.

Increasing the energy potential of the country

Noting that domestic business plays an important role in the diversification of the country’s industrial sector and its foreign economic contacts, President Gurbanguly Berdimuhamedov constantly emphasises the need to search for new areas of entrepreneurial activity. The introduction of innovative, environmentally friendly technologies in the practical use of natural sources, solar, wind, water and other energies, has a great potential for the active participation of entrepreneurs in state programmes and large-scale projects. The first entrepreneur who began to work in this direction was Nury Hydyrov, director of the Täze Energiýa (“New Energy”) Individual Enterprise, a member of the Union of Industrialists and Entrepreneurs of Turkmenistan. Since 2015, his company has been designing and installing solar panels, offering customers turnkey solutions.