Turkmen President Notes Importance of Sustainable Economic Development During Pandemic

BUSINESS TURKMENISTAN
Turkmen President Notes Importance of Sustainable Economic Development During Pandemic
President Berdimuhamedov said one of the main tasks of the forthcoming work is the creation of favorable conditions for the development of entrepreneurship.

President of Turkmenistan Gurbanguly Berdimuhamedov on Wednesday held a working meeting with Deputy Chairmen of the Cabinet of Ministers Bayramgeldi Ovezov and Gadyrgeldi Mushshikov, who are in charge of the transport, communications, financial and economic sectors.

Opening the meeting, the President noted the importance of maintaining a sustainable development of all segments of the economic complex taking into account the difficult epidemiological situation in the world and the region.

During the meeting, Deputy Prime Ministers Ovezov and Mushshikov reported on the spheres under their supervision.

Following the reports, Turkmen Leader said the state will further pay attention to the formation of a multifunctional and competitive transport and communications complex.

The Head of State then noted that he had signed a Resolution on the preparation of the draft State Budget for next year on May 15 and that it should include measures for the stable development of all sectors, increasing the profitability of production, and rational use of investment opportunities.

President Gurbanguly Berdimuhamedov said the situation in the global economy remains difficult and noted the need to maintain sustainable development of all sectors of the economy, adding that special importance should be given to modernization of industries, reduction of non-essential expenditures, stabilization of the financial system, and preservation of investment activity.

Currently restrictions are imposed on international passenger and cargo transportation, which has a negative impact on the main economic indicators of enterprises in the transport and communications sector, the Turkmen President said. This requires an operational response to the current situation in order to reduce its impact on the further development of the sphere.

The revision of the terms for payment of bank loans, taxes and investments and the development of the relevant proposals in a short time were noted among the significant practical steps that should be taken.

President Berdimuhamedov said one of the main tasks of the forthcoming work is the creation of favorable conditions for the development of entrepreneurship. In this context, it is necessary to consider the possibility of providing the private sector with various benefits in supply of raw materials, bank loans, paying taxes, conducting settlements and export operations, the President noted.

Among the priority and export-oriented sectors of the national economy is the textile industry, the Head of State said. Due to the current situation in international markets, the demand for products manufactured by industry enterprises has temporarily decreased.

In this regard, the Turkmen Leader said the opportunities should be explored for the sale of textile products to domestic consumers and search for foreign markets.