Private Sector Strengthens Its Position in Economy of Turkmenistan’s Lebap

Private Sector Strengthens Its Position in Economy of Turkmenistan’s Lebap

Private sector in Turkmenistan’s eastern province of Lebap has strengthened its position in the economy of the province in the first six months of this year, the country’s official media reported on Wednesday.

During the January-June period of this year, private businesses have increased their share in industrial production in the province. They account for almost two-thirds of the province’s industrial production.

In the eastern province, almost 50 individual enterprises produce construction materials bricks, reinforced concrete supports, floor blocks, glass and lime.

In the first half of 2022, industrial products worth more than 9.85 billion manats were produced in Lebap. Of these figure, over 6.42 billion manats fall on the share of private producers, while the rest over 3.42 billion manats were produced by state enterprises.

Such dynamics can be observed in retail trade. In the first six months of this year the total retail trade turnover in Lebap province amounted to more than 6.62 billion manats, an increase of 10.5% compared to the same period of 2021.

More than 90% of the turover’s total volume, or over 5.97 billion manats, falls on the share of the non-governmental sector in Lebap.Retail trade turnover of the province’s businesses increased by 11.5% compared to the same period of 2021.

The retail trade at state trade enterprises increased by 13% and their total value amounted to 134.1 million manats.

Lebap province, located in the eastern Turkmenistan, borders Afghanistan and Uzbekistan. The province’s central city is Turkmenabat.

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