(MENAFN- Trend News Agency) ASHGABAT, Turkmenistan, September 2. In the second stage of construction of the smart city Arkadag, members of the Union of Industrialists and Entrepreneurs of Turkmenistan (UIET) are participating in the development of 120 facilities valued at approximately $952 million, Trend reports.

This was announced by the National Leader of the Turkmen people, Chairman of the Halk Maslahaty Gurbanguly Berdimuhamedov, at the opening of the International University of Industrialists and Entrepreneurs in Ashgabat on Monday.

Berdimuhamedov highlighted that in the initial phase of Arkadag's development, UIET stakeholders facilitated the construction and operationalization of 337 infrastructures, aggregating an investment of approximately $3.22 billion.

The Union is actively engaged in the 600-kilometer Ashgabat-Turkmenabat highway initiative, with a financial commitment of $2.3 billion, which is currently approaching the final stages of completion.

Since its founding in March 2008, the Union of Industrialists and Entrepreneurs of Turkmenistan has implemented more than 5,300 projects worth approximately $27.16 billion, creating around 425,000 jobs. Today, the Union has over 29,000 members, protecting the rights and interests of the private sector and promoting entrepreneurship throughout the country.

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