Turkmenistan Transforms its Deryaýollary Into Joint-Stock Company

BUSINESS TURKMENISTAN
Turkmenistan Transforms its Deryaýollary Into Joint-Stock Company
The Turkmen President signed the Resolution on the establishment of the Derýaýollary OJSC.

Derýaýollary (River Lines) Production Association under the Türkmendeňizderýaýollary (Turkmen Maritime and River Transport) Agency will become an open-joint stock company. President of Turkmenistan Gurbanguly Berdimuhamedov signed the relevant Resolution on Friday at a meeting of the Cabinet of Ministers.

During the government meeting, the Vice-Premier Bayramgeldi Ovezov, overseeing the country’s transport and communications spheres, reported on the progress of privatization of state-owned enterprises and their transformation into joint-stock companies, the country’s official media reports.

In order to improve the efficiency of the Türkmendeňizderýaýollary Agency’s Derýaýollary enterprise, it is proposed to change its organizational and legal status and create an open-joint stock company.

Focusing on the activities of the Türkmendeňizderýaýollary Agency, the Turkmen President emphasized the neçessisty of actively introducing effective methods of management, the formation of various forms of ownership for managing enterprises and the gradual privatization of the facilities.

Having signed the Resolution on the establishment of the Derýaýollary OJSC, the Head of State addressed the relevant instructions to the Vice-Premier.

According to the document, the founders of Deryaýollary OJSC will be the Türkmendeňizderýaýollary Agency, with a 10% share in the authorized capital, amd the Turkmenbashi International Seaport, with a 50% share in the authorized capital.