ASHGABAT, Turkmenistan, Feb. 21
By Huseyn Hasanov– Trend:
Turkmenistan reached an agreement with the OPEC Fund for International Development on investments in the amount of $10 million, Trend reports with reference to Turkmen Government.
It is expected that the loan will be used to finance projects carried out by entrepreneurs, both individuals and legal entities.
According to the decree of the President of Turkmenistan Gurbanguly Berdimuhamedov, control over the targeted use of the allocated funds is envisaged to be assigned to the State Bank for Foreign Economic Affairs of Turkmenistan. The work carried out in this area is designed to help increase production volumes and boost the export potential of local businesses.
The issue was discussed at a meeting of the Cabinet of Ministers of the country attended by the head of state.
President Berdimuhamedov emphasized that one of the key aspects of the country's socio-economic policy is providing all-round support to the development of the private sector, which is expanding the list of export destinations of Turkmen products to the global market.
Turkmenistan has created favorable legal, economic, financial and social conditions for the effective and dynamic development of this segment of the national economy, according to the president.
It was noted that Turkmenistan has improved the tax system, simplified export-import operations, preferential taxation and lending.
An important role in these activities is played by the Union of Industrialists and Entrepreneurs of Turkmenistan (UIET). Since its creation, the union has invested $6 billion in the country's economy. During this period, 23,500 entrepreneurs implemented 2,265 projects.
