In accordance with the "Program of Social and Economic Development of Turkmenistan and Investments in 2025", approved in February of this year, the expected investment volumes for the Ministry of Textile Industry will amount to 200 million manats, which will be directed to construction for production purposes, the State News Agency of Turkmenistan reports.

Thus, in the Saparmurat Turkmenbashy etrap of the Dashoguz velayat, a textile complex for the production of cotton yarn, cotton and terry fabrics, as well as finished garments will be built. The commissioning of the facility will allow the production and export of high-quality, environmentally friendly import-substituting textile products, and will also provide new jobs.

The creation of new production facilities of various forms of ownership is intended to promote increased employment, increase tax payments to the state budget and, thus, will serve as a significant factor in improving the social well-being of citizens.

In this context, among the measures planned by the Ministry of Textile Industry for the near future, the privatization of unprofitable enterprises under its jurisdiction that require reconstruction and modernization has been designated.

Members of the Union of Industrialists and Entrepreneurs of Turkmenistan are strengthening their positions in the textile industry, as well as in various sectors of the economy. They are actively involved in the creation of new production complexes based not only on natural raw materials, but also on the use of innovative technologies and global experience.

Earlier we reported that the textile industry of Turkmenistan is a striking example of the rapid development of the country's economy.