The topic of the online meeting – support of business during the pandemic COVID-19

The topic of the online meeting – support of business during the pandemic COVID-19

In the building of the Ministry of Finance and economy of Turkmenistan there was held an online meeting, devoted to the strengthening of stability of enterprises in Europe and Central Asia.

The video bridge by means of a special platform connected participants from Armenia, Azerbaijan, Kazakhstan, Tajikistan and other countries with representatives of the Ministry of Finance and Economy and the Central Bank of Turkmenistan and also the World Bank. It touched upon of the policy of the governmental support to the enterprises during the pandemic.

During the event Alfonso Garcia-Mora, Global Director, Finance, Competitiveness & Innovation Global Practice of the World Bank Group and Director of Trade of the Group of World bank Caroline Freund spoke with presentation «Support of small and medium enterprises and informal firms within the limits of reaction measures to COVID-19».

Participants of the video meeting, estimating works carried out by the state on support of small and medium business, noted necessity of study of the measures directed to softening of actions of the pandemic and rendering of assistance of the international organisations to the governments of the countries, and also an important role of digitization during the pandemic COVID-19.

– Taken measures should be adhered to certain terms. They are necessary for carrying out operatively, also the address approach which should provide simplicity of entry and exit of the companies and the enterprises to the market also is necessary, – Sebastian Molineus, the World Bank Regional Director for the South Caucasus noted. – The carried investigations showed that many companies have stopped activity because of quarantine measures. Therefore it makes sense to support the similar companies.

Representatives of the Turkmen side pointed out the importance of carried out works on the financial and tax privileges allocated for the private sector, improvement of business environment and increase in investments, business supports, and also economy reforms. They underlined the necessity of ability competently to operate risks, importance of definiteness and character of support which changes depending on the size of the company.