Private Sector of Turkmenistan Employs Majority of Working Population

BUSINESS TURKMENISTAN
Private Sector of Turkmenistan Employs Majority of Working Population
The share of the non-state sector in GDP of Turkmenistan currently stands at 70% and in 2021, this indicator is expected to reach 70.6%.

The private sector of the economy of Turkmenistan employs 50.3% of working population of the country, while the enterprises with a mixed state-private form of ownership employ 22% of the working population, Ashgabat-based Orient reports with reference to the data of State Statistics Committee of Turkmenistan.

The state enterprises employ 25.3% of the working population. This is less than in other CIS countries, and suggests that Turkmenistan is experiencing rapid business growth and a favorable business environment, according to the report.

The task of reducing the role of the public sector of the economy is included in the overall strategy of the government. The Ministry of Finance and Economy of Turkmenistan regularly holds auctions for the sale of state property. This provides new opportunities for previously unprofitable enterprises and helps to strengthen the position of the private sector of the national economy.

At the same time, women working in the field of individual entrepreneurship account for 54.3% of the total, which is 7.3% more than men in the private sector.

The share of the non-state sector in GDP of Turkmenistan currently stands at 70% and in 2021, this indicator is expected to reach 70.6%.

During a government meeting in February, President of Turkmenistan Gurbanguly Berdimuhamedov instructed the heads of the country's trade complex, in accordance with the anti-crisis program for 2020-2021, to accelerate the development of a draft program to increase export volumes and create factories producing import-substituting products for 2021-2025.