Turkmenistan to Establish Association of Motor Transport Enterprises

BUSINESS TURKMENISTAN
Turkmenistan to Establish Association of Motor Transport Enterprises
The Resolution on establishing the new company is aimed at improving the work of enterprises in the transport industry of Turkmenistan.

President of Turkmenistan Gurbanguly Berdimuhamedov during the video conference meeting of the Cabinet of Ministers on Thursday signed a Resolution on the establishment of the Awtoulag Kärhanalar Birleşigi (Association of Motor Transport Enterprises) Open Joint Stock Company, the State News Agency of Turkmenistan (TDH) reports.

According to the Resolution, the Ashgabat Passenger Motor Transport Enterprise and the Association of Driving Schools, subsidiaries of Türkmenawtoulaglary (Turkmen Motor Transport) Agency, were authorized to participate in the creation of the new company as founders with a share capital of 40% and 30%, respectively.

The Ministry of Finance and Economy of Turkmenistan was instructed to ensure the state registration of Awtoulag Kärhanalar Birleşigi OJSC in accordance with the established procedure.

The Resolution is aimed at improving the work of enterprises in the transport industry and creating favorable conditions for the development of market relations in the transport sector of Turkmenistan.