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The business community of Singapore got acquainted with the activities of the TSTB

19:2126.08.2019
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Opportunities to intensify the partnership between the Union of Industrialists and Entrepreneurs of Turkmenistan and Singapore companies were discussed today during the business forum dedicated to the state visit of the Turkmen leader to Singapore.

According to the State News Agency, the Turkmen side provided detailed information on the activities of the Union of Industrialists and entrepreneurs established on the initiative of President Gurbanguly Berdimuhamedov in 2008. Today it is a powerful business Association of 23 thousand representatives of the private sector, operating in many sectors of the economy.

The Union operates a school of entrepreneurship, a Trading house, the Directorate for construction projects, as well as its own Bank "Rysgal", important events and relevant information are reflected in the publications of the profile newspaper and on the website of the Union. TSTB branches, schools and banks are open in all regions of the country. A political party of Industrialists and entrepreneurs, represented in the national Parliament, has been established.

TSTB has offices in Beijing, Dubai, and Vienna. In addition, trade houses in Kyrgyzstan, Georgia, Afghanistan, and China were opened under the patronage of the Union.

According to the information, representatives of the private sector play an important role in the implementation of socio-economic reforms in the country. Private farmers are exempt from taxation, in the long-term use of free land allocated to them, as well as preferential loans. As a result, the share of the non-state sector of the economy in the structure of the gross domestic product, excluding the fuel and energy complex, amounted to 64 percent in 2018.

 

Over 10 years, the members of the Union have invested about 5.5 billion us dollars, of which 2 billion-in the agro-industrial complex. The implementation of these projects has created more than 150 thousand new jobs.

Export volumes of domestic products are steadily increasing, and supplies of fruits and vegetables, fish and other food products abroad have increased significantly.

The activity of the business community in the industrial sector is also growing. As examples – can lead to a range of "Abadan haly" for the production of carpets and carpet products, as well as Paper mill in Yashlyk.

According to the source, the production activity of the members of the Union also covers the chemical industry, which is developing on the basis of mineral resources of the country. Large enterprises for the production of such chemical products as high-quality iodine, synthetic detergents, disinfectants, edible salt, paints, building adhesives, waterproofing materials, aerated concrete slabs, and others have been built, which are also supplied to foreign countries.

Members of the Union are actively working on the implementation of projects for the construction of plants for the production of potassium fertilizers (potassium chloride and potassium sulfate), complex fertilizers, carbon black, ethyl alcohol, investment projects for the production of caustic and soda ash, chlorine, hydrochloric acid, sodium sulfate, cement and other chemical products from local natural and mineral resources.

A promising direction for cooperation in the chemical industry is the creation of enterprises for the production of liquefied gas, urea, and ammonia, graphite electrodes. Investment attractive projects in the field of heavy industry, metallurgy, gold mining.

Work is underway in the direction of the development of electronic and electrical industries. Entrepreneurs began to produce domestic electronic payment terminals and training computers, tablets, routers.

Not so long ago "Turkmen IT-Park" started its activity, aimed at the development of digital infrastructure in the country, as well as the introduction of innovative products of Turkmenistan to the international market. This should also contribute to the University of business and digital technologies, which is planned to open the Union next year. In this regard, Singaporean specialists are invited to develop projects in the field of information technology together with future students of the new Turkmen University.

Participants of the forum also discussed aspects of cooperation in such a key area as transport and logistics. The Turkmen Logistics Association was established under the auspices of the TSTB. Turkmen transport companies have modern equipment for the transportation of oversized and heavy loads, which allows serving industrial projects both in the country and in the region.

The priority direction of the Union is the development of tourism. Thus, the business forum identified such areas of establishing direct commercial and investment contacts as education, information technology, chemistry, transport and logistics, tourism.

In this regard, it was noted the importance of activating business exchanges, participation in exhibitions and fairs held in the territories of the two countries, the organization of targeted trips of entrepreneurs to explore opportunities for participation in various projects, the information says.

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