Turkmen Businesses Carry Out Large-Scale Investment Projects

BUSINESS TURKMENISTAN
Turkmen Businesses Carry Out Large-Scale Investment Projects
It is predicted that this year the share of the private sector in Turkmenistan’s GDP will be at least 70%.

As part of the implementation of the Investment Program of Turkmenistan for 2020, the share of imports in the country is significantly reducing and the share of non-state sector in exports is increasing.

According to the Turkmenistan newspaper, in 2020, Turkmen businesses, in addition to investing in increasing agricultural production, will build a meat and milk processing plant, a plant for processing household waste and garbage, and a cotton spinning mill in the Ak Bugday etrap of Ahal velayat, a factory for the production of reinforced concrete products in the Gokdepe etrap, which will occupy 6 hectares, and a factory for the production of aluminum profiles.

Turkmen businessmen will also implement major investment projects, including the construction of a 10.5-hectare wool washing and spinning enterprise in Mary velayat’s Bayramaly etrap, a nail factory, a plastic bag factory, and a plant for the production of 700,000 tons of potash fertilizers per year at the Leylimekan (Tubigatan) potash salt deposit in Lebap velayat’s Koytendag etrap.

In the aforementioned program, a special attention is paid to various construction projects, which will be implemented by private sector representatives. Members of the Union of Industrialists and Entrepreneurs of Turkmenistan to this day have commissioned trade and service centers, enterprises for the production of meat, dairy products, canned goods, fruit juices, soft drinks, building materials and furniture. Turkmen businessman actively continue their activities.

It is predicted that this year the share of the private sector in the country's GDP will be at least 70%.

In accordance with the Investment Program of Turkmenistan for 2020, gross investments aimed at various sectors of the country’s economy amount to 39.5 million manats.