The United States Agency for International Development (USAID) and the Union of Industrialists and Entrepreneurs of Turkmenistan (UIET) signed a Memorandum of Understanding (MoU) on July 7 to strengthen the private sector in Turkmenistan, USAID reported in its press release for media.
The MoU outlines a plan for collaboration between the two sides to increase competitiveness, expand exports of private sector products and services, and improve the investment climate.
The Memorandum also underlines USAID’s steadfast support for the economic empowerment of women and youth, as well as the promotion of digitalization, e-commerce, and innovations in the business sector. The MoU is expected to further strengthen these efforts and help create a more vibrant and competitive private sector in Turkmenistan.
On July 10, USAID concluded a two-day seminar on international parliamentary practices for 27 newly-elected MPs of the Mejlis. The seminar introduced MPs to best practices in lawmaking and showcased the efficient processes of parliamentary chambers around the globe.
The Union of Industrialists and Entrepreneurs of Turkmenistan (UIET), founded in 2008, currently has more than 28 thousand representatives of the private sector in Turkmenistan. The trade volumes of the union members increased 39.3 times compared to 2008.