President Saparmurat Niyazov of Turkmenistan has said that all industries, including the leather industry, will be privatised, with the aim of improving their economic efficiency, according to the Turkmen Dowlet Habarlar Gullugy news agency. Niyazov added that Turkmenistan’s corporate tax legislation will be amended in the near future, leading to tax reductions for enterprises. He also indicated that the state might purchase stakes of up to 50% in struggling shoe factories to help them survive.
