NEWS

«Blue fuel» for CHINA: The stages of great work

The day when a booster compressor station in the west of the Lebap velayat will start working is approaching. It will be put into operation in accordance with the Socioeconomic Development Programme of the President of Turkmenistan for 2019–2025. The customer is the Turkmengaz State Concern represented by the Lebapgazçykaryş Directorate. The project is being implemented by the Petro Gas Asia business society that represents the main contractor, Petro Gas LLP (UK), in Turkmenistan. You have to drive about 70 kilometres along the Turkmenabat–Mary highway and then turn right to the Karakum Desert to arrive at the important facility. After driving 40 kilometres, you will see first numerous openwork towers of searchlights on the horizon, and then bright industrial buildings with stainless steel pipes of characteristic silver colour, connected to them. Close to the facility, you can realise that the booster compressor station occupies a large territory, spreading out among low dunes and overgrown with yellow-grey bushes on an area of 11.5 hectares. The issues of power supply from the Mary state power station have been addressed, all the necessary lines have been laid and two transformers from the best world manufacturers and two diesel power plants, in case of emergency, have been installed.

The President of Turkmenistan holds session of development of construction and industrial complex

December 10, President Gurbanguly Berdimuhamedov held video conference working session where situation in construction sphere and industrial complex has been reviewed and perspective plans of further development of this sector have been outlined. Some Deputy Chairmen of the Cabinet of Ministers, heads of relative ministries and departments have taken part in the session. In the beginning of the session, Deputy Chairman of the Cabinet of Ministers G. Mushikov has reported on the measures for supporting stable rates of growth of the ministries and departments of construction and industrial sector and successful solution of set objectives.

New Anniversary Coins and Banknotes for the Day of Neutrality of the Motherland

Central Bank of Turkmenistan Issues Gold and Silver Coins to Commemorate the 25th Anniversary of the Neutrality of Turkmenistan New 100-manat coins will replenish a large collection of modern numismatic rarities that serve as some kind of chronicle in metal.

The President of Turkmenistan holds session on development of trade complex

On December 9, President Gurbanguly Berdimuhamedov has held video conference working session dedicated to current situation in the trade complex of the country and the utmost objectives of its further development. Some Deputy Chairmen of the Cabinet of Ministers and heads of relative ministries and departments took part in the session. First, Deputy Chairman of the Cabinet of Ministers G. Mushikov has reported on fulfilment of objectives on relative contract, which were concluded between the ministries and profile departments with foreign companies.

The President of Turkmenistan holds session for development of oil and gas complex

President Gurbanguly Berdimuhamedov held video conference working session dedicated to the development of fuel and energy complex of the country. Some Deputy Chairmen of the Cabinet of Ministers and high-rank official of fuel and energy complex took part in the session. Deputy Chairman of the Cabinet of Ministers G. Mushikov has reported on the contracts (agreements), which were signed according to the instructions of the President of Turkmenistan by the ministries and profile departments with foreign companies for procurement of goods, fulfilment of works and services.

Turkmenistan establishes transport infrastructure

President Gurbanguly Berdimuhamedov has taken part in the opening ceremony of the Complex of transport facilities and Training Centre of Driving School Association. Opening of several profile facilities is a visual indication that formation of modern transport system is among the priorities of the strategy of social and economic development of Turkmenistan. Our country, which has exclusively beneficial geographic location on the intersection of regional and interregional communication routes across Central Asia, has hue transit potential and tries to implement it with maximum output.

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.