New horizons of Turkmen business
March 19, 2018 | 10:41 |284
An exhibition of the Union of Industrialists and Entrepreneurs of Turkmenistan (UIET), timed to its 10th anniversary, was held in Ashgabat. At present, the UIET unites more than 20,000 entrepreneurs across the country. Their enterprises employ over 150 thousand people, and each day their number continues to grow. Thus, the business community plays an increasing role in the economic life of Turkmenistan, mastering new areas of activity. Today we are witnessing a very significant moment in the life of the Turkmen state, when the private sector, having enlisted the support of the government, is entering a qualitatively new level of development. The reliable miniature reflecting the course of the formation of the domestic business is a typical store of an entrepreneur located on the outlying districts of the Turkmen capital. Today, the sphere of retail and wholesale trade is almost owned by private traders. This is quite natural, since this niche is as simple as possible for beginners and does not require large investments at the initial stage. Another indicator of the development of Turkmen business is an assortment. It would seem that only yesterday, shop shelves were overladen with import goods, and any person who being a regular client of customs spent his time waiting for a new batch of goods abroad was considered a good businessman. Now the situation changed cardinally. Shelves are full by domestic products, and Turkmen industrialists have mastered the production of almost all types of consumer goods. In ordinary life, this is not so noticeable, because this process is systematic. The exhibition of UIET demonstrates the achievements of the entrepreneurship for 10 years in different branches. Another professional fact – a huge number of domestic goods that export abroad – is completely hidden from the eyes of ordinary consumers. For example, the weekly newspaper Rysgal, issued by the UIET, in each issue reports that one or more businessmen have established the supply of their products abroad. For example, “Muhammet Balkan” Economic Society, which has just started its activity in the production of carpets made of artificial fiber, has already managed to present its products at the profile exhibition in Kazakhstan. There the enterprise concluded a number of agreements with foreign partners on export deliveries. This is an indicator of the high mobility of domestic entrepreneurs, who quickly master production and easily enter the regional and world markets. To list all the spheres in which Turkmen business is involved, one must has a great patience. However, the most promising and interesting business profiles are processing of domestic raw materials, electronic industry and construction. Local entrepreneurs build and put into commission over 600 facilities throughout the country annually, including libraries, shopping centers, airports, fashionable hotels and much more. Over the years, they have managed to accumulate a colossal experience of work the construction field. Recently, something that will repeatedly increase the pace of development of domestic entrepreneurship happened. On March 16, President Berdimuhamedov ordered to allocate to the UIET a loan of 3 billion US dollars for financing the construction of the Tubigatan potash salt deposit in the Lebap velayat the Mining Ore Processing Plant for the production of potash fertilizers and of a high-speed Ashgabat – Turkmenabat highway. Why is it so important? The construction of these facilities is of immense importance for the future development not only of Turkmenistan, but of the Asian region as well. Having entrusted to entrepreneurs such large-scale projects, the president confirmed the readiness of entrepreneurs to work at a higher level. In addition, support in the form of a ten-figure sum reflects the government's confidence that local entrepreneurs can at least return these funds, and even more likely, can multiply it many times. The confidence of the head of government in the professionalism of Turkmen entrepreneurs was expressed also in the fact that the National Tourist Zone "Avaza" was transferred to the jurisdiction of the Union of Industrialists and Entrepreneurs of Turkmenistan. Undoubtedly, entrepreneurs will be able to give a powerful impetus to the development of this young resort on the Caspian coast. The final touch, which underpins all of the above said, is the approval of the State program on support of small and medium entrepreneurship for 2018 – 2024 as well as the decision to establish a special fund for supporting small and medium-sized entrepreneurship in Turkmenistan. Both these documents, in general, reflect the trend that has arisen in recent years – Turkmen business has reached the stage of development when it needs additional space for further growth. Moreover, the financial support and actualization of state programs will allow domestic entrepreneurship to flourish with renewed vigor.Eziz OVEZOV
