ASHGABAT (Central Asia Online) – The Turkmen government will disburse US $30m (85m TMT) to the Union of Industrialists and Entrepreneurs of Turkmenistan, Turkmen TV said March 21, citing a resolution signed March 20 by President Gurbanguly Berdymukhamedov.

The grant aims to “ensure sustainable, accelerated economic development,” Berdymukhamedov said, according to Turkmenistan.ru. The government wants private business to manufacture high-tech products that can replace imports, he said.

A March 17 Ashgabat exhibition of Turkmen business accomplishments spotlighted private enterprise’s contributions to meeting the country’s economic and social needs, including job creation, Turkmen media reported.