Turkmenistan Makes Amendments to Law on Privatization of State Property

BUSINESS TURKMENISTAN
Turkmenistan Makes Amendments to Law on Privatization of State Property
An amendment was also made to the Law on the privatization of state property at the expense of credit funds.

Amendments to the Law of Turkmenistan on Denationalization and Privatization of State Property entered into force on Monday with its publication in the official Turkmen press.

According to the amendments, state property that is not related to the main areas of activity of law enforcement agencies, state educational institutions, research institutes and centers of the Academy of Sciences of Turkmenistan may be subject to denationalization and privatization.

An amendment was also made to the Law on the privatization of state property at the expense of credit funds. In such case the funds received from privatization of state property shall be directed for repayment of credit and the remaining part shall be transferred to a special account of the State budget of Turkmenistan.

In addition, the amendments note that the organization of activities and circulation of necessary documents for the sale of privatized objects can be carried out in digital electronic form.

The law on amendments and additions was signed by the President of Turkmenistan Gurbanguly Berdimuhamedov on November 13 this year.