The fourth issues of Finances and Economy magazine – specialized scientific and practical publication produced since 2018, has been published. Its main purpose is to support the spreading of true information in the management, wise solution of business objectives of local companies and to provide the knowledge of the economy.
The magazine, instituted by the Ministry of Finances and Economy and published in Turkmen, English and Russian languages, is designate for scientist, teachers, post-graduates and students, personnel of government authorities and structures of local administration as well as for the managers and entrepreneurs. It will be interesting for all who is involved in economic problems in this or another aspect on professional level.
The issues reflects fundamental and practically important objectives of monetary and credit policy, pricing, foreign trade, financial market and banking system of the country. publications of specialists review various directions of investment and innovative activity of business entities, raise the results of reforms in economic sphere for discussion.
The authors made big work on systematization of large factual and statistic material and made proposals on implementation of strategic programmes of the Leader of the Nation.
For example, the article Macroeconomic Development gives the main indicators for the first half of 2018 in relation with programme objectives outlined by the Head of the State and positive tendencies in export sphere, realization of transit and transport potential of the country, growth of small and medium business in Turkmenistan.
Next section – the Regional Policy, is dedicated to structure and organization of national economy in territorial point of view. It describes the mechanisms of site realization of government programmes, analyses the efficiency of big investment projects on the example of the development of finances in Ashgabat. These investments are sent to the modernization of production infrastructure, expansion of the variety of export oriented and import substitutive production. By the outcomes of 2017, the share of the capital in total volume of industrial products was 10.2 percent and the indicators on certain types has significantly grown. These are high-voltage power distribution equipment, sewing and knitted garments, flour and other.
Number of private companies is growing. There are 4.3 thousands of them in Ashgabat only out of 18,000 companies in the country. Activation of entrepreneurship activity not only supports the level of work involvement of the population, expansion of internal consumer market and its saturation with quality goods and services by local material resources but also allows providing stable income of foreign currency to the State budget. The capital also plays key role in promotion of technical innovations, development of local securities market, establishment of modern and scientific based productions.
Publications of the magazine review topical objectives of rational use of labour resources in agricultural sector under the conditions of establishment of new production and economic relations in rural areas. Tis subject is opened in the context of the objectives for development of innovative methods of farming and introduction of water saving technologies, expansion of hothouse farming of the country and growth of agricultural production export.
In this aspect, the practice of the first farming associations, which will change to private ownership, one in each velayat for the beginning, will be quite interesting. It is expected that such approach to the organization will allow optimizing and improving the profitability of agricultural production, its flexibility in market conditions. In future, successful elaborations of pilot facilities will be used in other farming associations.
Comments of specialists based on the Labour Code of Turkmenistan and giving explanations on the recent amendments and addendums are dedicated to the main directions of modern development of working relations.
Strategy of innovative economy and pricing policy of the country were the subject of extensive article reviewing the mechanisms and factors affecting the pricing in fuel and energy industry. Such important indicators as the volume of national export, dynamics of the world prices directly influence the growth of the GDP, level of budget income and hence, the wealth of Turkmen people.
Big projects of establishment of high technology complexes of oil and gas and petrochemical profile promises significant economic efficiency. It includes the plant for production of environmental friendly gasoline from natural gas, which is almost ready to be opened in Owadandepe and is the first facility in the world of such kind.
Pages of regular issues of Finances and Economy magazine have the materials about the improvement of the system of profile education and implementation of information technologies to the training process, about the changes in accounting and financial reporting.
“Turkmenistan – the Heart of the Great Silk Road” section has an article dedicated to the perspectives of development of transport sector of the country. It focuses on use of high-speed trains in passenger and cargo transportation taking into account their high cost-efficiency and ecological friendliness. In this aspect, foreign practice is studied in short, which detailed research is necessary for future creation of high-speed railway communication in Turkmenistan in the future.
The authors highlighted that large-scale projects carried out under the leadership of President Gurbanguly Berdimuhamedov on revival of the Silk Road are aimed at the formation of modern transport and logistic, trade and economic route making closer the countries and people in their desire for friendship and cooperation. Application of high-speed trains entirely meets the idea of the Leader of the Nation about the formation of multimodal transport system, which is able to turn Turkmenistan into important transport hub of the region and continent.
Series of articles on gradual implementation of the UN sustainable development goals in Turkmenistan continue the magazine. “Intellectual Potential of the Nation - The Foundation for Sustainable Development” article presents successful experience of the country in the achievement of the Goals 4 and 5 of global agenda. This is about the provision of comprehensive and fair, quality education and provision of gender equality.
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