Azernews.Az

By Nigar Abbasova

Turkmenistan should accelerate the pace of privatization process, stated Turkmen President Gurbanguly Berdimuhammedov while addressing a meeting with the Cabinet of Ministers.

He mentioned that share placing, organization of stock exchange market and conduct of tenders should become main tools for the privatization activities.

The list of objects which will be subjected to the privatization is expected to include enterprises operating in the sphere of energy, transport, communication, and infrastructure.

“This will create a good opportunity for the development of mutual cooperation among investors,” he said adding that the proposals should be included in the new edition of Constitution.

Berdimuhammedov also underlined the importance of taking measures for reducing the number of state enterprises and agencies, and development of the private sector.

Turkmenistan headed for the switch to market economy which stands for the economic system in which economic decisions and the pricing of goods and services are guided solely by the aggregate interactions of a country's citizens and businesses with little government intervention. The country has already taken a number of measures such as denomination of the national currency, unification of exchange rates for this purpose.

The country has adopted a state program for privatization of state enterprises and facilities in 2013-2016. The main objective of privatization is transforming as many enterprises as possible into a joint-stock company.

The project on privatization is expected to create favorable conditions for the successful development of the socially oriented market economy.

The country actively carries out privatization in the spheres of construction, communication and services.

--

Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova

Follow us on Twitter @AzerNewsAz