Transport — an Important Link of Business Cooperation

Being an important link of major international transit corridors, Turkmenistan actively establishes mutually beneficial cooperation with foreign countries and international structures. A wide range of issues related to cooperation in the transport sector is included in the agenda of almost all business forums. In March, the Turkmenistan–Tatarstan business forum was held in Ashgabat. In the context of building up trade and economic cooperation and mutual trade in accordance with the existing potential, both parties expressed their readiness for close cooperation in the transport and logistics sector. As it was emphasised at the Forum, the relations with the Republic of Tatarstan occupy an important place in the bilateral partnership between Turkmenistan and the Russian Federation. This cooperation develops consistently and on a systematic basis in line with the Declaration on deepening the strategic partnership between Turkmenistan and the Russian Federation, signed by President Serdar Berdimuhamedov and President Vladimir Putin in Moscow last June, and the agreements concluded. The key areas of the multifaceted dialogue between Turkmenistan and Tatarstan are the fuel and energy complex, the textile industry, agriculture, machine- and shipbuilding and transport. The solid and wide composition of the representatives of the business community of Turkmenistan and Tatarstan and t

Union of Industrialists and Entrepreneurs of Turkmenistan Celebrates 15th Anniversary

UIET Holds Anniversary Forum in Ashgabat An exhibition of the Union of Industrial Enterprises and Entrepreneurs was held in the capital city to mark the 15th anniversary of this large public organisation. On this occasion, an anniversary conference took place.

Agroindustrial Complex as an Important Segment of the National Economy

Turkmenistan attaches particular importance to the modernisation of the agroindustrial sector, which is directly related to ensuring food abundance in the country and building up the export potential of the national economy. The large-scale reforms aimed at improving agricultural efficiency and increasing agricultural output are being successfully implemented. Now the application of new organisational and legal forms in this sector in line with international practices, modern requirements and national realities is becoming increasingly important. In recent years, the agricultural reforms, aimed at diversifying production, optimising land and water relations, supporting agribusiness, creating high value-added production chains and adopting market mechanisms and digital technologies, have been implemented in Turkmenistan. Turkmenistan’s agroindustrial sector comprises several sectors of the economy, namely agriculture, industries and trade closely related to agricultural production. Its effective functioning focuses on producing and processing agricultural crops into high-quality consumer goods.

A Model of Digital Economy

The development of high-tech and efficient industries in Turkmenistan is a priority of the socioeconomic policy of President Serdar Berdimuhamedov, since such development is essential for achieving the economic and social goals. These tasks are being fulfilled in the framework of the Conception of Digital Economy Development of Turkmenistan for 2019–2025 and the State Programme for Digital Economy Development for 2021–2025, ensuring the all-round prosperity of our country. The 21st century is the age of innovations. It is marked by their rapid growth – they have become an integral part of life, helping people solve problems and fully recognised as the foundation for global sustainable economic development. Digital transformation is taking place in nearly all sectors of the world economy – manufacturing, finance, services, education, infrastructure and the social sphere, among others. The main tools to enable digital transformation are the creation of the IT sector, the development of innovative methods and cybersecurity. This transition to a brand new economy is done by automating all processes of data processing. The Internet of things, big data, artificial intelligence, monitoring systems, blockchain, neural networks, 3D modelling, virtual reality, cloud computing and many other tools contribute to the integration of all data flows to create an informati

Investments as a source of economic growth

In the new history of the Turkmen people, large-scale reforms, aimed at improving the well-being of all citizens of our country, are taking place in the country. The main objectives of the progressive, long-term development of segments of the national economy are set forth in the Programme “The Revival of the New Era of the Powerful State: The National Programme of the Socioeconomic Development of Turkmenistan in 2022–2052” and the Socioeconomic Development Programme of the President of Turkmenistan for 2022–2028. The Investment Programme of Turkmenistan for the period until 2023 was approved at the extended meeting of the Cabinet of Ministers of Turkmenistan on February 10 this year. The Programme sets the important tasks for the sectors of the national economy to ensure the rapid economic growth.

Reliable Support of National Economy

One of the priority areas for deepening economic reforms conducted in Turkmenistan under the leadership of the esteemed President Serdar Berdimuhamedov is to encourage entrepreneurship. It has a significant role to play in modernising and diversifying the sectors of the national economy, increasing production and expanding the range of competitive product, achieving food abundance and enhancing the export potential of the country. Entrepreneurship is one of the leading sectors that largely determines the economic growth, the employment level and the structure and quality of the gross national product. Its development corresponds to global trends towards the formation of a flexible mixed economy, a combination of different forms of ownership and an adequate economic model, which allows synthesising a competitive market mechanism and state regulation of large-, medium- and small-scale production. World practice convincingly shows that, small-scale business has a significant impact on economic development and contribute to solving social problems and increasing the number of employed workers even in developed market economies. Small businesses in some countries play a leading role in terms of the number of employees, the volume of goods produced and sold, work performed and services rendered.

Import Substitution as a Crucial Economic Factor

A flexible and pragmatic import substitution strategy underlies the successful development of all spheres of Turkmen economy. Its successful implementation contributed to the continued downward trend of imports, since the increase in domestic production has enabled to reduce the imports of many products, consumer goods and foodstuffs. In recent years, Turkmen producers have significantly expanded their presence in the market. Such large-scale work allows creating new industrial areas for Turkmen economy and expanding consistently the list of domestically produced goods able to compete in the market. Domestic manufacturers have made great progress in all sectors of the economy and consistently expand the list of goods, contributing to saturating the domestic commodity market and enhancing the export potential of our country.

The President of Turkmenistan took part in the opening of a complex of mudflow diversion facilities

Today, with the participation of President Serdar Berdimuhamedov, a solemn ceremony was held to put into operation a complex of mudflow diversion facilities in the southern part of the capital of Turkmenistan. The implementation of the urban development program is one of the most important directions of the state development strategy pursued by the head of state. This comprehensive program, as you know, is focused on the use of advanced world achievements and innovations in the construction industry and provides for the creation of optimally comfortable conditions for people's lives, their creative work and good rest. In accordance with it, social, cultural, administrative, industrial and other facilities are being built in all corners of the country, forming the modern infrastructure of cities and villages.

Import Substitution: Current Trends and Prospects

Today, Turkmenistan is one of the most dynamically developing states in Central Asia. Unique natural and climatic conditions and rich mineral resources have laid the groundwork for a diversified economy with the priority development of the agricultural sector and the strong industry oriented to import substitution. Our flexible and pragmatic import substitution policy ensures the successful development of all sectors of the economy. Successfully implementing the economic modernisation and diversification policy and introducing innovations in all spheres of the economy, our country is experiencing an unprecedented growth and prosperity. It is accelerating the development of its diversified industry that uses advanced technologies and know-how and seeks to increase the production of import-substituting and competitive products. The esteemed President Serdar Berdimuhamedov has set clear goals and objectives to the economic sectors: to facilitate modernisation to raise the country’s competitiveness in all areas. The President has set the priority tasks, including the structural transformation of the economy and the dynamic development of competitive, export-oriented and import-substituting enterprises. Since the national economy is developing through investments and innovations, it is therefore necessary to strengthen the competitive advantages of Turkmenistan on a global

Key spheres of economy

The International Exhibition “Construction, Industry and Energy of Turkmenistan-2022” and the Conference “Construction, Industry and Energy Development in Turkmenistan” that marked the Day of Construction and Industrial Workers were held at the Exhibition Centre of the Chamber of Commerce and Industry of Turkmenistan. The exhibition of the achievements of Turkmenistan’s construction sector has grown into a large-scale event attracting construction industry specialists from all over the world. This annual forum is growing in popularity with every passing year along with the interest of business circles, including not only the largest domestic manufacturers, but also major companies from Turkey, Germany, the Russian Federation, Austria, France, Switzerland, Iran, Kazakhstan and Uzbekistan, among others. Thousands of specialists had an opportunity to learn about Turkmenistan’s latest achievements in the sphere building materials and technologies.

Strategic planning is the most important tool for the development of the country

At the extended sitting of the Cabinet of Ministers of Turkmenistan held recently, the results of the activities of the sectors of the national economic complex over the past six months of the year were summed up, the implementation of the Presidential and other programmes of the socioeconomic development of the country was discussed, and priority tasks for the second half of the year were identified. During the discussion of the planned measures, the head of state paid special attention to the use of innovative strategic planning tools aimed at the balanced management and coordination of the activities of ministries, departments and economic entities of all forms of ownership and organisational and legal basis. In accordance with the national strategy, the most important and priority tasks include the phased development of plans, programmes and projects, taking into account an integrated and systematic approach to ensuring the sustainable development of all sectors of the economy and regions. This is confirmed by the positive dynamics of macroeconomic indicators, including the stability of GDP growth rates, which increased by 6 per cent, the volume of manufactured products grew by 11.5 per cent compared to the same period in 2021, retail trade turnover increased more than by 10.4 per cent compared to the same period of the last year, and foreign trade turnover g

Export-Oriented Economy: Current Trends and Prospects

The priorities of the economic strategy of any state are to enhance the export potential, to transform from an importer into an exporter of deeply processed products and to stably increase currency earnings. Turkmenistan is no exception. With the aim of fulfilling this task and ensuring state support in this sphere, the export promotion programme that is being implemented successfully has veen adopted. Macroeconomic theory states that foreign trade is the major component of GDP. It is the excess of exports over imports that ensures the inflow of foreign currency in the economy and is the main factor contributing to sustainable economic growth. High economic growth is based on such factors as industrialisation, a favourable investment climate for local and foreign investors, access to sea routes and active support for exporters. In accordance with the Socioeconomic Development Programme, Turkmenistan is taking consistent efforts to transform itself into an industrial and export-oriented developed state.

International transport and transport corridors: Interconnection and development

A Conference on the Diversification of Logistics in the Eurasian Space Organised in Turkmenistan The Turkmen capital hosted a two-day international conference entitled “International Transport and Transit Corridors: Interconnection and Development”, devoted to the diversification of transport and transit cooperation in the Eurasian space.

Towards sustainable transport

The relationships and development of international transport and transit corridors will be the topic of a conference to be held in Ashgabat on July 18-19. The event is being organised by the Transport and Communications Agency under the Cabinet of Ministers of Turkmenistan in partnership with the Turkmen Forum. Heads of national and international transport companies, senior management of logistics organisations and major international financial institutions have already announced their participation in the discussion of topical issues in the transport and logistics sector. In addition, representatives of such international organisations as the UN, OSCE and diplomatic missions accredited to Turkmenistan are expected to participate in meetings and panel discussions. Meetings of business partners will be held on the side-lines of the Conference. We asked representatives of large transport and logistics companies, members of the Turkmen Logistics Association, to comment on the forthcoming event and to share their expectations.

Transport diplomacy: potential and prospects

Turkmenistan, which takes an exceptionally favourable geographical position, is confidently strengthening its position as an important transport and transit hub and logistics centre of regional and continental importance, striving to realise its impressive potential for the common benefit. By expanding transport flows from Asia to Europe and back, the country is successfully integrating its national economy into the global economic space. Turkmenistan, located at the intersection of the main East–West and North–South trade routes, is a strategic crossroads between Asia and Europe. The Eurasian continent has historically been a natural space of close and multifaceted interaction, in which dozens of peoples and states have been involved. For centuries, economic and commercial ties have been actively developing among them, trade routes have arisen and mastered. This process has always carried a huge civilisational function, ensuring the interpenetration of cultures and traditions, helping better perceive and understand each other.

The power of national economy

On the 11th of February of this year named the «Era of the People with Arkadag» the «Revival of the new Era of the Powerful State: the National Program of developing the social-economic trends of Turkmenistan in the years of 2022-2052» adopted at the session of Halk Maslahaty of the National Gengesh of Turkmenistan which was held in the Maslahat Palace of our capital. Of course, increasing the energy power of our country is one of the main tasks, planned in the National Program. In his speeches our Esteemed President calling attention to developing fuel-energy complex, the formation of innovational productions on processing the hydro-carbon means, underlined the great importance of formation of multilateral system of widening the export opportunities by diversification and also of exporting energy means. In Turkmenistan, which is one of the main states of large energy resources, the fruitful works are realized on reliable transit of energy resources and securing sustainable development and safety on the initiatives and proposals of our Neutral state under the patronage of the UNO and our country has a great international authority. The adoption of Resolutions «On Reliable Transit of Energy Resources and its Significance on securing Sustainable Development and International Co-operation» in 2008 and 2013 shows vividly this truth. The recognition of our Neutral Motherland a

Turk­me­nis­tan in the world in­for­ma­tion space

Expo 2020 sets new Guinness World Record

     Another world record that deserves inscribing on the Guinness World Records has been set at the World Exhibition in Dubai. According to russianemirates.com, Dubai Police in collaboration with Expo 2020 Dubai has created the largest chain of people wearing a badge.  265 people of 193 nationalities thanked Expo 2020 Dubai and passed the badge with the Expo 2020 symbols to each other in the three-minute video. The video, which was made during 48 hours, features 192 Country Pavilions. This action was recorded on the Guinness World Records as the largest online video chain of people wearing a badge

Integrated Development of the Velayats is the Basis for the Prosperity of the Homeland

A Working Trip of President Gurbanguly Berdimuhamedov President Gurbanguly ­Berdimuhamedov made a working trip to the Balkan velayat, where he visited the Uzynada oil and gas field and conducted a meeting on the further development of the oil and gas industry and on the development and realisation of the country’s rich resource potential.

Turkmenistan in the third decade of the 21st century:

Formula of Success With regard to the history of the country, each year is another milestone in the development of the society and state. The historical chronicle of independent neutral Turkmenistan will preserve the events of 2021, which became significant along the path to achieving sustainable socioeconomic development and strengthening the authority of Turkmenistan in the world community.