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Turkmen Entrepreneurs to Embark upon Mine Development
Economy
Turkmen Entrepreneurs to Embark upon Mine Development
Published 12.04.2017
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Targeting the local industrial sectors at deep development and industrial exploration of the country’s natural resources, President Gurbanguly Berdimuhamedov stresses the necessity of the more active engagement of the Union of Industrialists and Entrepreneurs in this work through offering certain incentives to the enterprises involved in the development of underground treasures. Entrepreneurs focus on exploration of mineral deposits and production of import substitutes, export-oriented products from local minerals. Turkmenistan’s Law “On Mining” reads that “Mineral deposits and resources contained therein, preserved as in natural condition throughout Turkmenistan, including the Turkmen sector of the Caspian Sea, are national heritage resources of the people of Turkmenistan; the exclusive property of the state, and only leased by the state.” The Law also reads that the sections of deposits cannot be purchased or sold; donated; inherited; deposited; pledged; or disposed of in any other form. The right over deposits and their resources, as well as the right define the user of the deposits belong to the Cabinet of Ministers of Turkmenistan.

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