Turkmenistan to Amend Its Legislation on Privatization of State Property

BUSINESS TURKMENISTAN
Turkmenistan to Amend Its Legislation on Privatization of State Property
The President of Turkmenistan has noted the importance of identifying mechanisms for transferring medium and large state-owned enterprises to private ownership.

During the meeting of the Cabinet of Ministers of Turkmenistan held last Friday, President Gurbanguly Berdimuhamedov instructed the head of Mejlis (Parliament) Gulshat Mammedova to improve Turkmenistan’s Law on Privatization, TDH news agency reports.

Noting the importance of stepping up measures in this area and identifying mechanisms for transferring medium and large state-owned enterprises to private ownership, the Head of State stressed the need to provide legal support for these and other areas of socio-economic reforms’ implementation.

The Turkmen Leader also instructed Deputy Prime Minister Gadyrgeldi Mushshikov to Strategy for the Management and Transformation of State-Owned Enterprises in 2020-2025 and, together with the Mejlis of Turkmenistan, modernize the legislative acts regulating privatization.

In addition, Deputy Prime Minister Shamuhammet Durdyliyev was instructed to carry out reforms in the construction sector as soon as possible, to train the necessary specialists, to speed up the analysis of the activities of specialized structures, and also to develop and submit proposals for modernization or privatization of enterprises for consideration.