The private sector faces challenges to growing and developing within Turkmenistan’s primarily state-controlled economy. For small and medium-sized entrepreneurs in the regions, the challenges vary but include overregulation and excessive bureaucratic procedures. A survey of SMEs in the country’s five regions found similar obstacles for business growth as well as some differences.
In the northern province of Dashoguz, SME representatives identified the following as the most pressing barriers to growing their businesses:
- Limited access to credit
- Lack of information on business-related legislation
- Not enough information available about the domestic market situation
In Ahal region, where the capital Ashgabat is located, entrepreneurs report that the situation for business has stabilized in the past year. SME owners expressed optimism about the state of their business activities, asserting that if one is persistent and driven, it is possible to operate a successful business. SMEs in the Balkan region, which borders the Caspian Sea, also note some improvements in the ease of doing business, citing market stabilization as the main factor.