The Ministry of Finance and Economy of Turkmenistan developed a Procedure of transfer of state property into trust management on a competitive basis, regulations, rules and conditions of this type of activity.
This was reported by Hojamyrat Geldimyradov, the Deputy Chairman of Government in charge of economic and financial issues, to President Serdar Berdimuhamedov during the online cabinet meeting on Friday, the country’s official media reports.
The Vice-Premier’s briefing during the government meeting focused on the practical steps taken to improve the effectiveness of state property management, the formation of a favorable business environment and improvement of national legislation in this area.
Following the brief, President Berdimuhamedov stated that the work being implemented in this direction are designed to promote better use of state property and its profitability, to attract foreign and domestic investment in the economy, to improve the process of management of state property, and gave a number of specific instructions to the Vice-Premier to this end.
The Law of Turkmenistan on Trust Management of State Property entered into force on November 16 last year.