Law No. 57-IV On state support of small and medium-sized businesses.
Country
Type of law
Legislation
Date of original text
Date of latest amendment
Abstract
This Law establishes the legal and policy framework for state support of small and medium-sized enterprises (SMEs), recognizing them as a key driver of economic growth, job creation, and social development. It defines the objectives of state policy, including creating favorable financial, investment, organizational, and informational conditions for SME development, enhancing competitiveness of domestic producers, and encouraging entrepreneurship. The Law clearly defines SME categories—micro, small, and medium enterprises—based on sector-specific employment thresholds, and sets rules on eligibility for state support and the loss or restoration of related benefits if thresholds are exceeded.
The Law outlines the institutional system for regulating and supporting SMEs, assigning roles to the Cabinet of Ministers, a central State Support Group, and regional and local authorities. These bodies are responsible for developing and implementing state and regional SME support programs, coordinating policies, monitoring SME development, and proposing legal and policy improvements. Support measures cover a wide range of areas, including access to finance, state procurement, innovation and technology, training and capacity building, development of information infrastructure, export promotion, and use of state property on preferential terms.
In addition, the Law provides strong legal guarantees for SMEs, ensuring protection of property rights, freedom of economic activity, access to information, and safeguards against unjustified state interference. It regulates inspections, limits excessive oversight, protects commercial secrets, and guarantees compensation in cases of expropriation or requisition. The Law also promotes fair competition and prohibits anti-competitive practices by public authorities. Final provisions govern dispute resolution and liability for violations, confirming the law’s role as a comprehensive foundation for SME development in the country.
The Law outlines the institutional system for regulating and supporting SMEs, assigning roles to the Cabinet of Ministers, a central State Support Group, and regional and local authorities. These bodies are responsible for developing and implementing state and regional SME support programs, coordinating policies, monitoring SME development, and proposing legal and policy improvements. Support measures cover a wide range of areas, including access to finance, state procurement, innovation and technology, training and capacity building, development of information infrastructure, export promotion, and use of state property on preferential terms.
In addition, the Law provides strong legal guarantees for SMEs, ensuring protection of property rights, freedom of economic activity, access to information, and safeguards against unjustified state interference. It regulates inspections, limits excessive oversight, protects commercial secrets, and guarantees compensation in cases of expropriation or requisition. The Law also promotes fair competition and prohibits anti-competitive practices by public authorities. Final provisions govern dispute resolution and liability for violations, confirming the law’s role as a comprehensive foundation for SME development in the country.
Attached files
Web site
Entry into force notes
This Law enters into force on the date of its official publication.
Repealed
No
Source language
English
Legislation Amendment
No
Original title
TÜRKMENISTANYŇ KANUNY Kiçi we orta telekeçiligi döwlet tarapyndan goldamak hakynda.