The Concept of Creating Free Economic Zones in Turkmenistan Up to 2023 will be developed. As reported at today’s session of the Cabinet of Ministers, the document aims to facilitate the integrated and rational use of mineral resources; boost export potential; promote import-substituting production; encourage introduction of innovative technologies; contribute to a wider attraction of foreign investments and establishment of joint ventures.
The draft Concept suggests defining key areas of development of free economic zones in the country. In the global economic system, free economic zones are among key factors of rapid economic growth that is obtained through exchange of information and technology, deepening of integrated economic processes, mobilizing investments and increasing the international trade turnover.
As noted, the draft Concept must be developed with regard to the provisions of national legislation and analysis of economic situation, and must contain information on forecasted effect of creating free economic zones.
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