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Founder: Ministry of Sports and Youth Policy of Turkmenistan
Adress: 54, B.Saparmyrat Turkmenbashi Avenue, Ashgabat Telephones: 22-81-38

News

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