OSCE hosts seminar on small business development for women in Turkmenistan, precondition for sustainable economic growth

Developing small business ideas for women in Turkmenistan, a precondition for sustainable economic growth, foreseen challenges and opportunities, were the focus of an OSCE Center in Ashgabat-hosted seminar on 6 and 7 July 2021 in Ashgabat.

Representatives of the Ministry of Finance and Economy of Turkmenistan, Ministry of Trade and Foreign Economic Relations, and other relevant state agencies, and non-government organizations attended the event.

The purpose of the seminar was to share the best practices on promoting small and medium-sized businesses, as one of the key factors of economic growth. The discussion was also gender-focused, resources for small and medium enterprises (SMEs) development, specific mechanisms for small business stimulation, such as micro-loans and other financial tools.

'The OSCE participating States attach great importance to the women's economic empowerment, while the support to development of the SMEs is also one of the priorities of the OSCE's work in the economic area,' said Head of the OSCE Centre in Ashgabat John MacGregor. 'Women's participation in the economic sphere contributes significantly towards economic recovery, sustainable growth and the creation of cohesive societies, and is therefore essential to the security and stability of the OSCE region,' said MacGregor, referring to the OSCE Vilnius 2011 Ministerial Council's Decision.

Two international experts from Greece and Russian Federation introduced participants to the best practices in strategic planning for sustainable business growth, highlighting challenges and opportunities of the detailed business-planning process. They spoke about selection rules and typical mistakes during further stages of SMEs promotion and networking. In addition, the representative of the Women's Union in Turkmenistan briefed participants on the country's experience and priorities in the area of SME development.

The Centre organized the event within the framework of the project 'Strengthening regulatory framework governing investment climate and development of the Small and Medium-sized Enterprises (SME`s), emphasizing on a women-owned SME`s, as a precondition of sustainable economic development'.