Turkmenistan aims to attract private resources to the industrial sector of the country

Expanding the private sector and attracting its resources to the industrial sector of the country requires finding the most effective forms of cooperation and managing interaction mechanisms to achieve sustainable and stable development goals. Therefore, these areas are an integral part of state programs of the country. This was stated by Deputy Minister of Finance and Economy Babanyyaz Yalakov at the International conference «Development of the construction, industrial, chemical, and energy industries of Turkmenistan» (CIET 2025).

B. Yalakov stated that the Turkmen state, represented by certain structures, is taking all necessary measures to create a favourable business environment for business activity, initiative, and innovative management, guiding private producers toward solving strategic and important tasks in the development of industrial sectors and construction.

«One of the strategic paths to modernising economy of our country is the development of a public-private partnership (PPP) system aimed at improving the quality of products and services, budget efficiency, and attracting investment into the economy by aligning the economic interests of government agencies and the private sector, and by pooling their resources and competencies in the development and implementation of investment projects», - said B. Yalakov.

According to the Deputy Minister, small and medium-sized businesses contribute to the resolution of many pressing economic and social challenges, influencing the development and creation of a number of industries and areas of economic activity in which share of the state has significantly declined, while share of the private sector, on the contrary, is increasing every year.

In this way, involving businesses in the implementation of investment projects in areas such as construction, industry, the chemical industry, and energy will allow for more efficient use of the financial and production potential of both the public and private sectors emphasised B. Yalakov.