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News

The main source of information for sports enthusiasts

The official website of the Ministry of Sport and Youth Policy of Turkmenistan (www.msy.gov.tm) regularly acquaints readers with various sports news both within the country and abroad on its pages. The site offers readers sports news in Turkmen, English and Russian. The main pages of the site present the results of the competitions, the reviews of the matches and tournaments, sports experts’ showdowns and assessments of victories and defeats.

Interesting facts about finance

Ancient Rome is the first state to mint round coins on an industrial scale. One million US dollars in $ 100 banknotes will weigh about 10 kilograms.

Development of the national economy in the era of might and happiness

The economy of Turkmenistan has been developing quite successfully over the years of independence. And already today, stable socioeconomic growth, reserves of natural resources and the country’s work in conditions of peace and stability make it possible to optimistically evaluate further steps in the development of the national economy. This is also confirmed by the independent authoritative international rating agency Fitch Ratings, which assigned to Turkmenistan a long-term rating B + stable. Such recognition provides additional opportunities for our country in foreign economic activity, confirming its reliability as a trading partner. How did the country manage to achieve such impressive results? Turkmenistan gained independence in 1991. Since then, we have undertaken a number of economic reforms aimed at developing a market economy. Being an industrial-agrarian republic within the USSR, the country, nevertheless, specialised mainly in the extraction of hydrocarbon resources and the production of raw cotton for the needs of the industrial centres of the former Soviet Union. In the system of the so-called all-Union cooperation, to a large extent (and based on modern realities), this was conditioned by the fact that Turkmenistan, in particular, ranks fourth in terms of natural gas reserves (15–20 trillion m3), second only to Russia itself, the USA and Canada. The country also

Turkmenistan speeds up the creation of transport transit infrastructure of international significance

President of Turkmenistan takes part in opening Ashgabat-Tejen section of Ashgabat-Turkmenabat highway 29.10.2021. Today, President of Turkmenistan Gurbanguly Berdimuhamedov has taken part in the solemn opening ceremony of the Ashgabat-Tejen section of the Ashgabat-Turkmenabad highway.

XXVI International Conference «Oil and Gas of Turkmenistan-2021» started its work in Ashgabat

On October 27, the XXVI International Conference «Oil and Gas of Turkmenistan-2021» (OGT-2021), dedicated to the 30th anniversary of Independence of the country, started its work in Ashgabat in the building of the Chamber of Commerce and Industry of Turkmenistan in a hybrid format. The objective of this annual prestigious business forum, which contributes to strengthening and developing cooperation between foreign partners with Turkmenistan in the oil and gas industry, is to strengthen the dialogue on the further sustainable development of energy sector, review the latest trends in global energy system and expand opportunities for attracting foreign direct investment in the oil and gas industry of Turkmenistan.

Key vector of economy

One of the most important directions of the foreign economic policy of Turkmenistan is attracting investments in various sectors of the national economy and taking measures for their effective development. The rapidly developing economy of Turkmenistan, its favourable geographic location in the Central Asian region, modern transport communications and reliable strategy to attract investments increase the interest in cooperation on the part of world powers. The investment strategy of the esteemed President Gurbanguly Berdimuhamedov is designed for the long term and is aimed at creating all the necessary conditions for the effective work of investors. In addition, there are all the prerequisites for this: the country’s favourable geographical position, a developed transport network, the presence of rich deposits of natural resources, a high level of development of industrial and social infrastructure, qualified personnel and other factors that allow investors to look far into the future.

Economic strategy of Turkmenistan: A national model of sustainable development

President of Turkmenistan Gurbanguly BERDIMUHAMEDOV: Sacred independence is the foundation of all our development and glorious achievements For 30 years of independence, Turkmenistan, whose economy is developing at an accelerated pace, has firmly consolidated its positions among the countries that are successfully integrating into the world economic space. The achievement of the further progress of the Motherland by stimulating entrepreneurship, introducing advanced technologies, creating joint ventures and joint stock companies, developing insurance, the stock exchange and the securities market and implementing fundamental transformations in all sectors is identified as the priority direction of the economic strategy of President Gurbanguly Berdimuhamedov, the author of innovative initiatives. The main goal of the reforms being implemented to overcome the raw material orientation of the economy, the development of market transformations, the effective use of natural resources and the creation of favourable conditions for the life of people is reflected in the fundamental motto “The state is for the people!”

Trade – a key segment of the economy

Conducted in accordance with the economic strategy of the leader of the nation, the intensification of the trade sphere strengthens foundations of the financial stability of the state, makes an important contribution to the formation of the budget and has a significant impact on the development of production. Growing indicators of domestic trade indicate an increase in the welfare and quality of life of the population, and foreign trade dynamics demonstrates the expansion of the geography of deliveries of Turkmen products to foreign markets. The socioeconomic transformations carried out by the esteemed President Gurbanguly Berdimuhamedov, the introduction of market mechanisms and principles in activities of all sectors of the economy have led to economic growth, also reflected in the sphere of trade. A competitive environment has been formed in it, entrepreneurial activities have been developed, modern methods of organising trade and providing services have been applied.

Transport – a way to sustainable development

As one of the active participants in global integration processes aimed at further facilitating sustainable development and achieving economic growth and stability, Turkmenistan continues to implement the goals outlined in the foreign policy strategy of the state, carried out under the wise leadership of President of Turkmenistan Gurbanguly Berdimuhamedov. On July 29, 2021, on the initiative of Turkmenistan, the UN General Assembly unanimously adopted the Resolution entitled “Strengthening the links between all modes of transport to achieve stable and reliable international transport for sustainable development during and after the coronavirus disease (COVID-19) pandemic” at the 96th plenary meeting of the 75th session. This initiative has become another confirming factor of the attention of our state to the issues of strengthening international transport cooperation, which is in line with international and regional efforts to overcome the pandemic and its economic and social consequences.

Key link of the Economy

The commissioning of a new International Airport in Kerki with the participation of the head of state became a significant event both of the social and foreign economic strategies of President Gurbanguly Berdimuhamedov. In the modern world, the development of transport corridors is a requirement of the time, and our country, together with neighbouring countries, is implementing major regional and continental projects. Therefore, in the modern history of the state, transport infrastructure is one of the priority sectors of the national economy of Turkmenistan. Our country is a promising territory for the development of cargo traffic among the countries of the Eurasian continent and it significantly inreases its transit potential, as the creation of international transport corridors is an important factor in the deployment of productive forces in the modern world economy and the further development of world transport.

Transport corridors of Turkmenistan: Prospects of the branch

On the initiative of Turkmenistan, the UN General Assembly adopted a new resolution in the field of transport. It is entitled “Strengthening the links between all modes of transport to achieve stable and reliable international transport for sustainable development during and after the coronavirus disease (COVID-19) pandemic”. However, the previous UN resolutions, the drafts of which were also presented by the head of state have positively influenced the growth of the economies of the countries of the world.

Industry of Turkmenistan as a key vector of the economy

Turkmenistan today is one of the most dynamically developing independent states in Central Asia. Its unique natural and climatic conditions, rich mineral resources, developed agriculture and powerful labour potential served as the basis for creating a diversified economy in the country with the priority development of not only the agricultural sector, but also of a powerful industry. In accordance with the economic strategy of the distinguished President Gurbanguly Berdimuhamedov, large-scale reforms, aimed at diversifying industries and increasing exports of products in demand on world markets, are being implemented in Turkmenistan. World practice shows that industry plays the most important role in the development of the economy of any country. The national leader notes that despite the spread of the coronavirus pandemic in the world, which led to a fall in the world economy, the closure of the borders of all states and a reduction in business contacts, Turkmenistan has maintained and ensured the growth of its economic activity. Its sustainability is ensured due to the balance between the supply from the industrial sector as a locomotive of the economy and domestic demand, supported by high rates of investments and real incomes of the population.

Online Trading in Turkmenistan Is in Demand

In the 21st century, digital services have become extremely important. With the advent of computers, networks and electronic payments, usual shopping trips have been modified, that is, today e-trade is confidently replacing traditional shopping. Electronic retailing in Turkmenistan is gaining increasing popularity among the population. There are many reasons for this. The main advantage of online stores is that buyers can save their time.

The main goal is security

The Department of State Surveillance carries out state control over the quality of works and services, compliance with the requirements of regulatory documents on standards and standardization. Conducts certification work of testing laboratories. Performs certification work of existing production facilities, production complexes and services. The work is carried out in accordance with the item «Distribution of works on certification of enterprises in accordance with the requirements of international standards related to the quality control system and environmental protection» of «Programs of social and economic development of Turkmenistan for 2019 — 2025 of the President of Turkmenistan». In 2021, the TDS-ISO 9001:2015 (E) certificate of quality compliance was registered for transport and logistics services in the oil and gas system of the private enterprise «Dag deňiz» according to the requirements of international standards.

Reliable experiment — high quality

The experimental department of light textile industry and furniture products of the Experimental laboratory of the state service «Turkmenstandartlary» of the Мary velayat, respectively conducts experiments with various types of clothing, knitwear and furniture products imported from foreign countries and produced in our country. Large-scale changes are being made in all areas of our country, as well as in the standardization system. Achieving high quality of work and services, products imported from foreign countries and produced in our country is one of the main tasks of this service.

Safety of production — keystone to success

Proper compliance with the requirements of technical safety and labor protection at the enterprises of the velayats is always in the attention of our employees. It is important to conduct timely technical analysis on newly constructed and reconstructed facilities. Ultimately, compliance with the occupational safety requirements of the technical methods and equipment projects implemented in these buildings is achieved. In April 2021, the 84th gas station of the Dashoguz oil Product Company was reconstructed and a new brick factory was built in the etrap of S.A.Niyazov. Employees of the Department of Labor Protection and Underground Resources conducted a technical analysis of the project documentation in these enterprises.

Legal norms for ensuring the safety gas supply

The «Program of socio-economic development of our country for 2019 — 2025 of the President of Turkmenistan» referred to the highest level of the oil and gas complex in the industry of Turkmenistan, its products occupy the first places in the country’s exports.They also spoke about the continued growth of this sector, about paying more attention to the development of modern oil refining of hydrocarbons, the introduction of advanced technologies and production facilities, the production of high-quality and competitive products. The working meeting on development of a fuel and energy complex of the country visually testifies to it spent on December, 1st, 2020 the dear President on digital visual communication. At meeting the Leader of the nation has underlined, that the fuel and energy sector is one of strategic directions of national economy and that works on its further modernization should and proceed further. The dear

Textile industry: Key segment of economy

Being one of the leading and dynamically developing industries, the textile industry of Turkmenistan plays an important role in the diversification of the Turkmen economy. Its growth is eloquently indicated by the annual increase in production volumes. The industry plays a significant role in solving state problems and meets the vital interests of all regions of the country. The Turkmen state sees full-scale and, most importantly, comprehensive processing of raw materials as one of its strategic tasks, which in turn puts forward a number of requirements for the current development of the country’s textile industry, a promising branch of the national economy. The policy of the esteemed President of Turkmenistan on industrialisation has made it possible to increase the competitiveness of our country at the international level, to attract new finance to large industrial projects. The further integration of the Turkmen economy into the world one is strengthening. The national leader pays great attention to the development of logistics and the country’s transit potential, which will allow the country to diversify its economy, to find new export routes and to enter new stages of industrialisation.

Promising Projects of Foreign Trade

In the modern history of the Turkmen state, drastic reforms are being implemented in the country on the initiative of President Gurbanguly Berdimuhamedov to enhance the economic strength and to improve the welfare of the people of our Motherland. The ultimate goals of the state strategy are to create an innovative, high-tech, competitive economy, to flood the domestic markets with the products meeting international standards and to increase the export potential of Turkmen economy. With the view to fulfil the tasks directly related to the rapid growth of Turkmen economy, the Foreign Trade Strategy of Turkmenistan for 2021–2030 was approved on February 12 this year. The successful implementation of the long-term and promising strategy opens up new frontiers of progressive growth for the economic sectors and contributes to improving the quality of the life of every citizen. The key aspects of this strategy include the improvement of the national legal framework to promote and significantly facilitate foreign trade, the development of agriculture, an increase in the share of services trade in the total foreign trade turnover, the promotion of production and exports and the enhancement of the competitiveness of national enterprises in foreign markets.

Moving Forward to Abundance

The business community plays a significant role in fulfilling the tasks to implement large-scale projects of regional and international importance in the food industry. The best possible conditions created in the country for the effective operation of businesses contribute to increasing the number of modern enterprises that manufacture a wide range of high-quality eco-friendly foods. This is vividly illustrated by the new agroindustrial businesses fitted with state-of-the-equipment that are tasked to create an abundance of goods in markets and trading enterprises in the year marked by the glorious 30th anniversary of independence of the Motherland and held under the motto “Turkmenistan – the Home of Peace and Trust”.