President of Turkmenistan holds working meeting on development of the national economy

President Gurbanguly Berdimuhamedov held a working meeting with the participation of Deputy Chairman of the Cabinet of Ministers G. Mushshikov, who is in charge for the economic block, Minister of Finance and Economy M. Serdarov and Chairman of the Central Bank M. Annadurdyev. The priority tasks of development of the national economic complex of Turkmenistan, as well as reports on drafting the 2021 State Budget were discussed during the meeting. Minister of Finance and Economy M. Serdarov reported on the indicators of local budgets provided for in the draft State Budget for the coming year.

High frontiers – the golden lines in the chronicles of independence of the motherland

Forum on the Economic Achievements of the Country Held in Ashgabat An Exhibition of Economic Achievements of Turkmenistan and a conference entitled “Digital Economy – the Key Factor of Economic Development” that marked the 29th anniversary of independence of the Motherland were held in the capital city of the country.

Banking system of Turkmenistan: quality, reliability, stability

The Halkbank State Commercial Bank has introduced a new service, Halkbank terminal, for owners of shopping and service centres. This digital banking product is a mobile software developed on the basis of modern and reliable technologies and replaces the usual payment terminal for non-cash payments. In the Era of Might and Happiness, a number of measures have been taken to radically reform the country’s banking system, in particular, to introduce digital technologies, successfully realising the Conception of the Development of the Digital Economy until 2025. Owing to this, the industry received a powerful impetus for development, which is evidenced by the adoption of legislative acts regulating banking activities in accordance with international standards, an increase in bank branches, equipped with the most modern technologies, throughout the country, the provision of high-quality banking services to customers, and an increase in the size of loans.

Turkmen textiles – standard of high quality

In the modern history of the Turkmen people, under the wise, far-sighted and progressive leadership of President Gurbanguly Berdimuhamedov, fruitful work is being carried out in the country to maximise the development of key sectors of the economy. Effective reforms are aimed at the diversification, innovative growth and widespread digitalisation of production facilities. One of the key vectors of the rapid and breakthrough growth of the Turkmen economy is the country’s textile industry, which is consistently increasing the competitiveness of Turkmen products in international markets. Today, there is a significant increase in demand for high-quality textile products all over the world. Consumers give due preference to textile products made from natural fabrics and also to goods that meet modern global trends and fashion. In this regard, textile products labelled “Made in Turkmenistan” are enjoying a rapidly growing popularity both in the domestic and foreign markets. The colossal demand for products made from natural, environmentally friendly raw materials is conditioned by the consistent expansion of their assortment and improvement of the quality of Turkmen textile goods.

Diversification of the fuel and energy complex – the strategy of the industrial growth of Turkmenistan

President Gurbanguly Berdimuhamedov participates in the ceremony of laying new facilities at the Turkmenbashi Complex of Oil Refineries Being on a working trip to the Balkan velayat, the President of Turkmenistan Gurbanguly Berdimuhamedov took part in the solemn ceremony of laying new power units at the Turkmenbashi complex of oil refineries.

Economic and socio-cultural potential increase – the basis of the country’s progress

President Gurbanguly Berdimuhamedov inspects new agricultural machinery and makes a working trip around the capital President Gurbanguly Berdimuhamedov inspected the cotton-harvesting machinery of the world-famous company John Deere, which had arrived in our country on the eve of the start of the “white harvesting campaign”, and, at the request of the Deputy Chairman of the Cabinet of Ministers Sh. Durdyliyev, he made a working trip around the capital city to acquaint himself with the course of construction of new buildings and projects of facilities planned for construction.

Raising the competitiveness of the economy of the country

Today, among the main tasks of the national economy, the country’s sustainable development, mutually beneficial cooperation with all countries of the world, the further diversification of foreign trade turnover and the expansion of the geography of export supplies are identified. In this regard, one of the goals of the Programme of the President of Turkmenistan for the socioeconomic development of the country for 2019–2025 is to increase the competitiveness of the national economy and the expansion of the export potential formed on the basis of diversified and competitive industrial production and the efficient use of available natural and raw materials. Currently, the country has a State programme to increase the volume of exports of products manufactured in Turkmenistan, within the framework of which many projects, aimed at the development of the chemical, pharmaceutical, light, food and other industries and agriculture in production of goods competitive on the world market, have already been implemented.

Working for the Benefit of the Motherland

The 29th anniversary of independence of Turkmenistan is on the threshold. This is another milestone date that naturally allows us to evaluate the progress we have made in achieving the goals. One of them is to rank among the dynamically developing and prosperous countries with a competitive economy. Turkmen entrepreneurs take the most active and immediate part in achieving this goal. The state policy pursued by President Gurbanguly Berdimuhamedov has enabled them to become an economically powerful force and to make a worthy contribution to the implementation of the national programmes aimed at ensuring the sustainable development of the country and the prosperous life of the people. As life shows, the people of our country love and know how to work.

The National Forest Programme Is Nearing Completion

In 2011, the Forest Code of Turkmenistan that sets forth new guidelines for forest conservation and restoration came into force. In accordance with the National Climate Change Strategy of Turkmenistan, the Government of Turkmenistan adopted the National Forest Programme in 2013 that is to be completed this year. The environmental initiatives put forward by President Gurbanguly Berdimuhamedov at the 65th and 66th sessions of the UN General Assembly underlie the development of these documents. In accordance with the Forest Code of Turkmenistan, forest inventories and cadastral surveys have been conducted since 2013, and since the adoption of the National Forest Programme spontaneous tree-planting activities have been transformed into a task-oriented and science-based contribution of the state to adapting the economy to the impacts of climate change and mitigating such impacts. Shamammet Saryhanov, Head at the Forestry Department of the Service for Environment Protection and Hydrometeorology at the Ministry of Agriculture and Environment Protection emphasised that along with tree-planting activities, research activities had been conducted. Botanical and forestry research activities continued at the forest nurseries of the state nature reserves. Their specialists cultivated medicinal and rare plants and studied the opportunities for phytoreclamation of the coastal zone of collectin

Industrialisation of the country — new milestones of development

Turkmenistan, which has embarked on the path of economic diversification, is successfully implementing state programmes to develop industrial sectors and to increase the export of industrial products. The construction and commissioning of enterprises supplied with the most up-to-date equipment and high technologies create ample opportunities for providing the country’s population with industrial products of mass demand. Effective work is underway to produce necessary high-quality and competitive products from available natural resources. The chemical and textile industries, the production of building materials, consumer electronics, pharmaceuticals, the modern food industry and other areas of industrial processing are being modernised comprehensively, on an innovative basis. These branches produce industrial goods with high added value that are competitive in the world market. The tasks of creating high-tech production structures and increasing volumes of the production of various consumer goods on the basis of our rich natural resources are being successfully solved.