Implementation of Basic Principles of State Properties’ Privatization in Turkmenistan

BUSINESS TURKMENISTAN
Implementation of Basic Principles of State Properties’ Privatization in Turkmenistan
Ministry of Finance and Economy of Turkmenistan is the authorized body in the field of denationalization and privatization of state property.

Implementation of the basic principles of the denationalization and privatization of state property is carried out on the basis of the State Program on the denationalization and privatization of state property (hereinafter referred to as the State Program) and in accordance with the decisions of the Cabinet of Ministers of Turkmenistan.

The state program is developed by the Ministry of Finance and Economy of Turkmenistan, which is the authorized body in the field of denationalization and privatization of state property (hereinafter referred to as the authorized body) with the participation of ministries and departments, local executive authorities and approved by the Cabinet of Ministers of Turkmenistan.

Objects of denationalization and privatization of state property

1. The objects of denationalization and privatization of state property are:

  • state enterprises - as a property complex;
  • buildings, structures and objects under construction;
  • production and non-production units and structural units of the enterprise as a property complex, the privatization of which does not violate the technological cycle;
  • separate units of state enterprises;
  • non-residential area in residential buildings, not considered common area;
  • shares of securities in the authorized capital of joint-stock companies, in the property of enterprises of various organizational and legal forms owned by the state (including those producing agricultural products);
  • other state property, with the exception of property provided for in part two of this article.

2. The following shall not be objects of denationalization and privatization of state property: subsoil, forest resources, water resources, airspace, resources of territorial waters and the marine economic zone, natural territories protected by the state or used in a special way, objects of historical and cultural heritage of Turkmenistan (unique cultural and natural monuments and objects of nature, cultural history, science and technology, including valuables stored in state museums, archives and libraries, including the premises and buildings where they are located), as well as land, property of the Armed Forces, national security organs, border and internal troops, state educational institutions, research institutes, centers and facilities of the Academy of Sciences of Turkmenistan and industry academies, defense facilities, a unified energy system, roads, railways, sea and inland waterways, main pipelines intended for the transportation of hydrocarbon resources and petroleum products, air routes, funds of the State Budget of Turkmenistan, the Central Bank of Turkmenistan and the credit resources created by it, state reserve, insurance and other funds, property of hydrometeorological service facilities, environmental protection and natural resources, patent service, standardization and metrology.

3. The Cabinet of Ministers of Turkmenistan may include other objects of state property as objects not subject to denationalization and privatization.

This normative law of Turkmenistan “On the denationalization and privatization of state property” entered into force on July 1, 2014.