The program of social and economic development of Turkmenistan for 2019-2025 has been approved
2 Feb
The program of social and economic development of Turkmenistan for 2019-2025 has been approved

On February 1, 2019, President Gurbanguly Berdimuhamedov held an enlarged meeting of the Cabinet of Ministers, which summarized the country's socio-economic development over the past year, heard relevant reports and evaluated the work done, identified the priority tasks assigned to sectors of the national economy this year, and also considered personnel issues.

In order to further accelerate the development of the country's economy and active investment policy, turn Turkmenistan into an industrially developed state, implement, in the context of a market economy, reforms based on knowledge and innovation, containing the most effective technologies in social and environmental terms, ensuring diversification of the economy sectors and types of property, its digitalization, as well as the creation of new jobs, the systematic implementation of measures to strengthen the economic potential President Gurbanguly Berdimuhamedov signed a decree approving the program of socio-economic development of Turkmenistan for 2019-2025. Our country and its regions, to further improve the social conditions of the population, improve regional investment activity.

The model of development of the national-economic complex for 2019-2025 proposed by the government of the country includes a number of strategic directions, President Gurbanguly Berdimuhamedov noted, focusing on each of them in detail.

First, a structural transformation of the industrial and service sectors is envisaged. Emphasizing the support of high-tech production, from the release of industrial products with low value added and scientific and technical level go to the production of goods with high VAT.

Secondly, it is the intensification of work to reduce the objects of state property at the expense of privatization and their transformation into joint-stock companies.

Third, the structural transformation of enterprises. To this end, it is planned to apply world leading scientific and technological achievements in the field of management and production, in accordance with which the management system will be updated. The basis for creating a new economy model will be the restructuring of enterprises through the introduction of a digital system.

Fourth, the program includes making adjustments to the marketing strategy. Globalization and integration at the international level open up large markets for enterprises, allowing them to fully enjoy the dividends from the implementation of their own investment projects.

In this regard, President Gurbanguly Berdimuhamedov continued, diversifying commodity and export markets, it is planned to limit the dependence of products on several markets. At the same time, support will be provided to the development of the domestic market, especially in rural areas.

In general, it is planned to reduce public spending and increase opportunities for attracting capital from the private sector and foreign firms. One of the promising vectors is the development of new types of investment, in particular, the establishment of a partnership between the state and the private sector.

The power industry, oil and gas production and processing, electronics, industry, agriculture, transport and communications, and the tourism sector are identified as the main industries as the driving forces of the economy.

The strategic goals are also the digital economy, digital medicine and digital education, the head of Turkmenistan noted, stressing that work has already begun on the transition of the state to a digital system. As a result of the implementation of this program, the Fatherland will turn from an agrarian country into an industrially developed state, the well-being of our native people will improve, which is our key task, the President said.