President of Turkmenistan welcomed the participants in the International Exhibition of Industrial Products, Equipment and Modern Technologies

The large-scale integrated programs under implementation in Turkmenistan cause great interest among foreign partners. The Socio-Economic Development Program of the country for 2018-2024 provides for modernizing the country's production potential, and creating the modern technologies-based economic infrastructure. It is planned to expand the production of both import-substituting and export products by means of widespread introduction of advanced developments. The implementation of these plans opens up new opportunities for cooperation in various economic sectors, including different industries, the fields of precise engineering and biotechnology, information technologies, renewable energy sources, telecommunications and other sectors, President Gurbanguly Berdimuhamedov said.

In accordance with the economic strategy of our country, a systemic and phased transition in Turkmenistan to market relations is coordinated with solving complex tasks on transforming Turkmenistan into an industrially developed state. Reforms ongoing in industrial sectors are focused on creating high-tech production capacities, increasing the volume of competitive goods produced on the basis of rich natural resources, as well as development of the national economy through diversification. The integrated national economy industrialization strategy and the successes achieved in the country are the visible example of the rapid progress of the Turkmen economy in the prosperous epoch of powerful state, which is in line with the goals and objectives of the social policy aimed at systematical improvement of the people's wellbeing.

Currently, large-scale work is underway in all regions of the Homeland to provide technological modernization of the enterprises. Successful implementation of the set objectives gives a powerful impetus to comprehensive development of the production facilities, their modern technical equipment, assimilation of large investments made in various areas of the country's industrial progress, and the expansion of production capacities.

The commissioning of new enterprises for multi-level processing of local raw materials makes it possible to form a strong base for economic growth, ensuring commodity abundance in the domestic consumer markets, and development of export potential.

Today much attention is paid in Turkmenistan to development of private ownership and encouraging entrepreneurship. Ample opportunities are provided to stimulate production initiatives and implement joint investment projects with foreign partners. At the same time, entrepreneurs have great potential to promote a wide range of their high-quality goods and services in foreign markets. Focusing attention of the exhibition participants on this fact, I would like to stress the presence of great prospects for investment activity in the private sector of the Turkmen economy.

I am confident that the International Exhibition of Industrial Products, Equipment and Modern Technologies will be of great importance in stimulating Turkmen commodity producers to introduce innovations into the production, which meet the modern requirements, as well as popularize across the world successes in this area and share experience, the President's welcoming address says.

Source: The state news agency of Turkmenistan