EU, EBRD Support Digitization of Turkmen Entrepreneur’s Small Business

BUSINESS TURKMENISTAN
EU, EBRD Support Digitization of Turkmen Entrepreneur’s Small Business
Entrepreneur Kanayev’s farm is designed to produce 4 tons of chal per day. (Photo: EBRD)

The project “Advice for Small Businesses in Turkmenistan”, funded by the EU and EBRD, is supporting the Turkmen entrepreneur Polat Kanayev to automate his cattle and camel farm’s managerial accounting and improve management of its resources, the Press service of the EU Delegation to Turkmenistan said in its statement last Thursday.

Under this project, the EU and the EBRD seek to boost the competitiveness of small and medium businesses in Turkmenistan by strengthening business management, encouraging innovation and addressing skills gaps through the delivery of business advice and training. The project, which started in December 2020, is funded within the Investment Facility for Central Asia (IFCA) and will run until 2025.

Entrepreneur Kanayev runs a camel farm with an area of 140 hectares in Ahal velayat of Turkmenistan. He produces the fermented milk products from camel milk – chal and agaran. His farm is designed to produce 4 tons of chal per day.

In 2020, Kanayev applied for the EBRD Advice for Small Businesses programme in order to automate managerial accounting and improve management of the company's resources.

The project focused on the installation and implementation of Management Information System (MIS) and training of the farm’s staff on how to use this system. As a result, the company managed to improve management effectiveness and reports became more informative, providing better conditions for an efficient decision-making process, according to the EU statement.

Digitalisation is a strategic priority in Turkmenistan. Digital transformation is becoming more and more popular among Turkmen enterprises regardless of their location, in main cities or rural areas, with a focus on communication technology and e-commerce.