The analysis and research magazine, Finance and Economics, established in 2018 is a new product on the country’s information market. According to the Resolution by President Gurbanguly Berdimuhamedov, the bimonthly publication is issued in Turkmen, Russian and English.
The magazine targets specialists, including senior management, high-ranking government officials, employees of financial and economic institutions, tax and insurance authorities, banks and private companies, political scientists and analysts, teachers of specialized universities, and aims to inform a wider circle of local and foreign readers about successes and goals of the national economy.
The second issue of the magazine established by the Ministry of Finance and Economy of Turkmenistan contains comments on key events in this sphere, the overview of its trends and pertinent issues of development of the country’s financial markets.
The opening article, “New Heights of Steady Advance”, addresses the recent ground-breaking ceremony for the Afghan section of the Turkmenistan–Afghanistan–Pakistan–India (TAPI) pipeline and the fiber optic line along the TAPI route.
Reviewing these and several other projects initiated by President Gurbanguly Berdimuhamedov, the author analyses the development of energy, transport and communication sectors in Turkmenistan in the context of their integration into the regional and global economy, effective involvement of major international economic agencies, global financial institutions and business circles into this orbit. All of these allow Turkmenistan to revive the Great Silk Road and restore the country’s historical role in its functioning and bringing together countries and peoples.
This is further elaborated in the next article, “Globalization and Development of the National Economy”, that examines the drivers of forming the new economic pole in the Asian region, mutual influences among processes in trade, capital flows and attraction of advanced technology in the aspect of Turkmenistan’s growing industrial exports.
In this context, the author notes that science and education become a major productive force in our country, while jumpstarting its national economic system towards innovation, resource saving and environment protection and the growing government support for entrepreneurship and private business initiatives ensure sustainable and stable development of the national economy and further social progress.
The issue also contains articles on the influence of the balanced government policy on the investment activity in Turkmenistan, the expansion of the network of transport corridors which remains the key focus of the country’s economic growth, the greater role of banks in scaling up international cooperation, on integration of local lending institutions into the global financial system.
The section titled “Market Reforms” contains the material on creating conditions for circulation of stocks, functioning of stock markets and organizing professional aspects of brokering and dealership activities in Turkmenistan.
The legal framework and other characteristic features of creating free economic zones in our country to promote the establishment of innovative industrial and manufacturing complexes and attraction of foreign investments are covered in the article “Advanced Forms of International Cooperation in Regions of Turkmenistan”. The article also reviews sectoral dynamics in the context of regions and their economic capacities.
The strategic directions of forming free economic zones in our country are described in the article by the Agency for Protection from Economic Risks under the Ministry of Finance and Economics. Apart from legal regulation of the work of economic zones, the focus priorities include implementing the most effective technology, economic build-up and import substitution, creating incentives for local producers, securing access to foreign markets for local enterprises, and consequent increase in the level of income of the people. Establishing cleaner production was also outlined as an important focus.
In this issue the magazine launched the series of articles on systematic implementation of the UN Sustainable Development Goals in Turkmenistan. Our country’s successful experience in achieving the first two goals on the global agenda is reflected in the article headlined “The Guarantor of Decent Life”. It dwells on the further improvement of public welfare, enhanced food security and agricultural reforms.
The article named “Environmental Element of Sustainable Development Policies” further builds on the themes of SDGs and reveals the set of extensive measures undertaken in our country to achieve goals that imply the advance towards sustainable consumption and production patterns, dealing with climate change, preserving ecosystems and other environmental measures.
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