Turkmenistan's President notes accelerating privatization | Eurasia Diary - ednews.net

6 August, Thursday

Turkmenistan's President notes accelerating privatization

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Turkmenistan President Gurbanguly Berdimuhamedov stressed the importance of accelerating the process of state property privatization at the government meeting, state media reports.

The processes will contribute further economic growth of the country, as well as the development of entrepreneurship.

Vice Prime Minister Gochmyrat Myradov made a report on organization of activities in the financial, economic and banking sectors.

A law on public-private partnership is being prepared in the Turkmen Parliament.

Priority tasks include supporting entrepreneurial initiatives of citizens, stimulating investment activity, privatizing and transforming state property into joint stock companies, as well as the creation of a legal framework for attracting entrepreneurs to agricultural production.

Turkmenistan needs to ease foreign exchange regulations on imports and other current international payments, the International Monetary Fund (IMF) said following the visit of the IMF mission to Ashgabat during February-March 2018.

Turkmenistan set a course to a gradual transition to a market economy, which is reflected in the Constitution. Presently, a relevant regulatory and legal framework is being created, while the commodity and raw materials exchange and the labor exchange are formed, and conditions are created for free wholesale trade.

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