Joint stock commercial bank “Rysgal”


The President of Turkmenistan holds session on development of national economy

05 March, 2020

President Gurbanguly Berdimuhamedov held a working session with the participation of Deputy Chairman of the Cabinet of Ministers G. Mushikov, who supervises the economic block and Chairman of the Central Bank M. Annadurdiyev. Practical measures aimed at solution of objectives on the development of financial and economic sphere were discussed at the session.

Commenting on the meeting agenda, the President gave floor to Deputy Chairman of the Cabinet of Ministers G. Mushikov. The Vice-premier reported on the fulfilment of assignments for improvement of activity of organizations under his supervision. It was also informed that latest methods and technologies are actively used in all structures.

Works for increment of import substitutive production and enhancement of export potential of the country are carried out on proper level.
Special attention is paid to successful solution of objectives for development digital economy.

Report on fulfilment of instructions of the Head of the State for integrated training of qualified personnel for banking and financial sphere, implementation of modern achievements and methods used in this sphere were presented.

Commenting on the report, the Head of the State highlighted that development of the economy on scientific basis stood as an important time requirement. “It will be very important for the expansion of production capacities, strengthening of economic power”, the President continued, giving a number of instructions to the relevant officials in this regard.

Chairman of the Central Bank M. Annadurdiyev reported about the situation in the structures under his supervision, and the measures taken for successful fulfilment of objectives set out in the Programme of social and economic development of the country until 2025.

It was reported that large-scale work was carried out to ensure the stable growth of all branches of the national economy, stimulation of small and medium business, steadfast improvement of banking activity by implementation of advanced practices.

Summing up the report, the President focused on the current tasks set to the banking institutions. The Head of Turkmenistan specified the expansion of cooperation with competent international financial organizations among the key vectors of work.

Special attention was paid to the responsible and comprehensive approach to training qualified specialists.

Speaking of the necessity to activate measures aimed at financial support of important projects, President Gurbanguly Berdimuhamedov requested to give productive character to relations with foreign investors. In this context, particular instructions were given to the Chairman of the Central Bank.

Addressing the Vice-premier and Chairman of the Central Bank, the Head of the State noted that it was necessary to provide integrated measures for reduction of impact of global modern risks on national economy.

Continuing the subject, the President ordered the Vice-premier to expand sale markets of local production, to develop efficient mechanisms of business support.

“Stable economic growth is formed up in the result of rapid increment of internal production and level of industrial self-sustainability”, President Gurbanguly Berdimuhamedov noted.

In this context, the importance of establishment of close contacts between big corporations and small and medium enterprises was highlighted. At the same time, it is necessary to take relative measures aimed at increasing the awareness of personnel of economic complex about the latest achievements in this sphere especially about advanced technologies.

The Head of the State specified assistance rendered to the ministries by granting of credits for solution of current objectives among the main objectives of banking organization of the country, in particular to ensure the acceleration of construction paces of industrial facilities.

“The policy of reforms and general line of fundamental changes comply with full and comprehensive realization of colossal potential of the country. The strategy of development of Turkmenistan is based on such main factors as scientific approach, wise management and strategic planning”, President Gurbanguly Berdimuhamedov highlighted.

“Strengthening of social protection of the population, realization of measures adequate to modern challenges are priority vectors of the government policy under new stage of development of market relations”, Turkmen leader continued.

“Support of dynamic rates of development of national economy, investment activity, implementation of large-scale reformatory programmes are necessary factors for successful fulfilment of objectives in this sphere. The labour market is formed up with intensification of economic reform, which is one of the main conditions of improvement of social provision of the population of the country”, the Head of the State said.

The Head of the State noted that all banks of the country had to provide consultative and methodological assistance to the branches.

“Thoughtful pricing policy of the state, support of private initiative and other measures require the increment of level of social provision of people. It is important to create necessary conditions for acceleration of programmes of development of all branches of the economy”, the Head of the State requested.

In conclusion of the meeting, President Gurbanguly Berdimuhamedov wished the participants success in fulfilling the set tasks.