INVESTMENT AND INNOVATION AS A PRIORITY
It is traditional that Turkmenistan’s private businesses demonstrate their achievements in spring to celebrate the day of establishment of the Union of Industrialists and Entrepreneurs of Turkmenistan (UIET). The thirteenth anniversary of establishment of this public association of Turkmen entrepreneurs was marked with a large-scale exhibition at the ExpoCentre of the Chamber of Commerce and Industry. A conference of representatives of the country’s private businesses was also held on the same day. The exhibition presented not only the achievements but also the huge potential of business structures operating in almost all sectors of the national economy. In doing so, the emphasis is put on advanced technologies and opportunities for effective investment in promising projects.
About two hundred exhibitors presented their stands at the exhibition, including the structural divisions of the UIET, Joint-Stock Commercial Bank “Rysgal”, large companies and business entities implementing large-scale government projects both in the capital city and provinces of Turkmenistan.
The exhibition traditionally featured the activities of the members of the Union of Industrialists and Entrepreneurs specializing in the agro-industrial business, food and processing industries. Private businesses operating in these sectors make a significant contribution to the strengthening of the country’s food independence and reliably ensure import substitution.
Turkmenistan’s private sector currently produces a wide range of meat and dairy products, baby food, fruit and vegetable concentrates, juices, mayonnaise, ice cream, canned products, fish delicacies and various confectionery products. The exhibitors included large agricultural enterprises, greenhouses, production and processing complexes for poultry, livestock and fish farming, as well as for processing of vegetables, melons and fruits.
Representatives of the business community work to increase food production through development of new irrigated lands, sowing additional crops on these lands, planting fruit trees and grapes and expanding the greenhouses area. This makes it possible to saturate the domestic market and increase exports.
The exhibition demonstrated the potential of the UIET members in implementing the National Concept of the Digital Economy for 2019–2025. Private companies operating in trade and provision of services expand online commerce and create mobile applications.
National entrepreneurs have been actively engaged in the implementation of the program on establishment and development of the electronic industry initiated by the head of state. At the same time, the emphasis is placed on highly efficient environmentally friendly productions, introduction of digital systems and technological innovations in all industries.
The exhibition also included stands of manufacturers of various types of household appliances – gas and electric stoves, ovens, microwave ovens, smart TVs that are quite competitive with foreign analogues and in great demand.
The construction activities carried out by private businesses were extensively reflected on the exhibition stands. Private companies have been entrusted with the execution of large government orders as part of state programs, including those related to development of Ashgabat. Members of the Union of Industrialists and Entrepreneurs are engaged in construction of residential areas, cottage complexes, parks, administrative and business districts, large-scale infrastructure facilities in the capital city. The largest government orders include the construction of the Ashgabat – Turkmenabat autobahn, new administrative center of Akhal province, Ashgabat City facilities and the 17th phase of development of Ashgabat. Judging by the exhibits, private businesses contribute significantly to the production of building materials. A few years ago, the building materials market was dominated by imports. Now, thanks to the intensive development of the private sector, the situation has changed dramatically.
Transport and logistics companies also presented their achievements and capacities at the exhibition. Their work is of particular importance given the prospects for implementation of large-scale international projects in this area.
The number of exhibitors operating in chemical manufacturing using domestic natural resources of Turkmenistan has grown. The stands featuring household chemicals were very interesting. Many individual entrepreneurs specializing in manufacturing synthetic detergents and disinfectants, cosmetic and perfumery products demonstrated their novelties. A number of exhibitors demonstrated the private sector potential in increasing the output of consumer goods. Among them are textile and shoe manufacturers that have established the production of modern clothing, fashion shoes and other popular products. By tradition, furniture manufacturers also presented their products.
The Turkmen business community’s significant achievements as part of the major state programs were discussed at the conference at the ExpoCentre of the Chamber of Commerce and Industry. The conference participants heard the reports on the work of the UIET in various areas, discussed the implementation of tasks set for the private sector, including the largest government orders and investment projects and other topical issues. The reports were also made on the measures taken to promote Turkmenistan’s goods to the international markets, introduce digital technologies. The results of the contest for the title of Best Entrepreneur of the Year were also announced.