Turkmenistan Textile Industry Welcomes Comprehensive Reform

According to Turkmenistan media reports, Turkmenistan’s President Berdymukhamedov recently expressed his strong dissatisfaction with the country’s textile industry at the expanded meeting of the national economic work cabinet from January to July this year and proposed that a comprehensive Reform and development of the country's textile industry.

The country’s president endorsed the proposal for the modernization of the textile industry in Turkmenistan and included this task in the national economic strategy development plan, stating that the country will spend heavily to build new enterprises, equip international advanced equipment, and expand the production of various types of textile products. Create a large number of employment opportunities and take comprehensive measures to solve the problems existing in the development of the industry.

The meeting proposed that the textile industry has an important strategic significance in the Turkmen national economy. In recent years, the country’s textile industry has developed rapidly and has encountered some difficulties. To achieve the goal of modernizing the infrastructure of the textile industry, improving product quality, expanding product categories, and improving the competitiveness of products, we must fundamentally reform the textile industry, address industrial restructuring and improve business operations. Under possible conditions, set up a group company to explore other forms of management of the textile industry. Through corporate reorganization, privatization of old businesses that are close to closures will be privatized or sold to individuals. In addition, the meeting also proposed to strengthen the study of the textile market demand, and strive to expand exports in order to increase industry profits.

There are 73 textile companies in Turkmenistan, of which 68 are manufacturing enterprises. From January to July this year, the total value of textile industry in Turkmenistan was 796 million manats (about US$ 279 million).