Turkmenistan to develop market economy

Turkmenistan to develop market economy

Turkmen President Gurbanguly Berdimuhamedov named the support and development of entrepreneurship and market relations in different sectors of the country’s economy as one of the main objectives, speaking at his inauguration ceremony held in Rukhiyet Palace in Ashgabat.

At the inauguration ceremony, Berdimuhamedov defined the steps to transform Turkmenistan into an advanced industrialized country.

“Deep processing of hydrocarbon resources based on modern technologies will be carried out, and such high-quality products as gasoline, polypropylene, polyethylene and liquefied natural gas will be produced,” Trend cited the Turkmen president as saying.

Turkmenistan will continue close cooperation with its neighboring and other countries in the fuel and energy sphere. In his speech, Berdimuhamedov stressed the importance of the construction of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline.

It was also noted that Turkmenistan doesn’t only have rich hydrocarbon resources, but also ore deposits.

The Turkmen president also mentioned the development of the electric power industry, commissioning of new power plants, increasing the electricity export and promoting the use of solar and wind energy.

Turkmenistan has embarked on a policy of gradual transition to the market economy, which is reflected in the country’s constitution.