Keywords: economic development, economy reform, further development, national legislation.
At the present stage of Revival of a new epoch of the powerful state, under the direct guidance of Honorable President of Turkmenistan, the national legislative system undergoes further development, and the relevant legal transformation take place. According to the leader of the nation, «the rule of law is the basic principle for build-up of the Turkmen society». In this context, the comprehensive measures are taken to improve further of the national legislation as a backbone of the national legal system, in the tideway of the universally recognized norms of the international law.
Economic development is the availability of progressive quantities dynamics of the GDP per capita, due to consecutive growth of production factors over certain period of time. The expression «economy reform» is broader in its sense the economy development. In context of the developing states this concept implies in line with the structural reforms the full changes in social, cultural, political segments.
With reference to the industrial countries’ experience the American Walt Raustow identifies five many stages in the development process: traditional social society, preparing of reforms, phase of reform, further development and further development and collective consumption. In other words, the economy reform implies development process: traditional social society, preparing of reforms, phase of reform, further development and further improvement of the national economic model by restructuring the existing economic structure.
It is impossible to imagine the process of economic development out of comprehensive development programs. The role of these programs in the practice is important. Most countries being convinced in inefficiency of the market economy concerning full elimination of socioeconomic growth barriers are trying to minimize uncertainties, potential risks by means of adoption of comprehensive development programs to support the private sector by taking decisions and also to define the function of the Government in new economic realities.
The organization and management of all economic organizational activities, i.e. all types of production through digital technologies, covering the entire system of economic and social activities, forms the digital economy.
As a result, system works such as increasing efficiency, saving time, improving technologies and equipment in various types of industries, organizing the delivery of products and services to consumers in an accessible and convenient manner, in contrast to ordinary economic activities, are performed.
The socioeconomic policy of Turkmenistan for the period of 2022–2052 is aimed at stable economic growth, consistent improvement of the public administration system, further improvement of the social security, the welfare of the people, ensuring their prosperous and happy life.
At the current stage of development of the world economy, the factors such as the strengthening of universal competition, climate change, and increased needs in food and water resources determine the main direction of the country.
Ensuring the country’s food security, as a priority direction of the state policy, influences the formation of important foundations of demographic policy, social system, ensures vital activity, health and physical activity, length and quality of life of the population of the country.
In the socioeconomic strategy of Honorable President of Turkmenistan, based on market relations, much attention is paid to investment activity. Implementation of the Programs and Plans of socioeconomic development of the country provides for the high rates of stable economic development of our country. As a result, financial resources sufficient for conduction of the investment policy at a high level are accumulated in the sectors of the economy. These resources, in turn, are invested to the development of the economy.
The National Program provides for the implementation of an investment policy aimed at the production of high-tech, competitive products, as well as the creation of economic system of the regions. Large-scale investment projects of the national and region levels will be implemented in various sectors of the national economy.
In the future, the implementation of an innovative and active development course, will radically change the nature of the country’s industrial production, and over time, it will be increasingly adapted to the changing conditions of the global economic market. The main goal of the industrialization policy of the state is to diversify the sectors of the economy as a whole, to create conditions for the development and formation of the manufacturing industries as the main engine of the country’s economy.
The stable growth of the manufacturing industries and their competitiveness pose the task of creating technologically advanced industries that involve changing the structure of fixed assets of the existing enterprises, promoting medium-and high-tech products to world markets through the digitalization of production.
Industrial and innovative development of the country involves satisfaction of the needs of the domestic market by introduction of new technologies, by increase of competitive oil and gas processing industries undertaking of modern structural transformations in the industrial branches.
The current trends in the global economy lead to perceptible slowdown of many national economies, cause instability at the international commodity and financial markets. They are characteristic with uneven development of regions in the world, with other negative processes. In such conditions, the new trend begins to appear to form new financial-economic poles for coordination of production sphere, for essential influence of market channels striving to control the resource, transport and energy flows.
The sphere of foreign trade and economic reforms are interrelated closely. The advantage of competitiveness, the growth of GDP due to the foreign trade surplus is the aim of any state. Intensive export favors economic growth through stimulation of aggregate supply. Import of production technologies and semi-finished goods is alternatively favorable for intensive growth and economic development. This factor aimed at production growth promotes further strengthening of the structure of industrial economy, due to optimization of the customs and tax environment.
Public private partnership, enhancement of investment potential, as well as optimal model of public private coordination become the perspective vectors of efficient economic development. Such approach will allow increase the share of non-state sector in the GDP (without the fuel-energy sector) up to over 73.2 % by 2025, thus strengthening the position of Turkmenistan in the world economy.
References:
- Gurbanguly Berdimuhamedov. «State Regulation of Socioeconomic Development of Turkmenistan» — study guide for higher educations. Part I — Ashgabat, Turkmen State Publishing Service,2010
- Constitution of Turkmenistan (new edition) — Ashgabat, 2018
- Conception of Digital Economy Development for 2019–2025 — Ashgabat, 2018
