Measures are being implemented in Turkmenistan to diversify the economy, develop high value-added production, promote digitalisation and support national businesses. This is reported by the online news site AsmanNews.

The development of private enterprise remains one of the priorities of state policy. Preferential lending, tax incentives and a business-friendly policy are helping to expand the private sector’s participation in various sectors of the economy.

Private enterprises are actively developing in the agro-industrial sector, the food industry, the production of building materials, logistics and the transport sector. Their activities help to create new jobs, increase household incomes and strengthen market mechanisms.

Products labelled ‘Made in Turkmenistan’ are strengthening their position in both domestic and foreign markets. The competitiveness of domestic goods is ensured by the introduction of modern technologies, improvements in production quality and compliance with international standards.

The main export sectors for the private sector are textiles, foodstuffs and building materials. At the same time, import substitution is developing: local producers supply the domestic market with meat, dairy and fruit and vegetable products, poultry products, as well as building materials, paints and varnishes, plastic products and pipes.

One example of public-private partnership has been the development of production of motor and industrial oils, as well as products resulting from the deep processing of hydrocarbon raw materials.

In accordance with the Constitution of Turkmenistan, the country’s economy is developed on the basis of market principles, whilst the state provides support for small and medium-sized enterprises.

Systematic measures to promote business development, innovation and digitalisation are helping to strengthen the country’s economic potential and expand its export opportunities.