As part of the second phase of construction of the "smart" city of Arkadag, members of the Union of Industrialists and Entrepreneurs of Turkmenistan (UIET) are building 120 facilities with a total value of approximately 3.4 billion tmt. This was announced by the National Leader of the Turkmen People and Chairman of the Halk Maslahaty, Gurbanguly Berdimuhamedov, during the opening ceremony of the International University of Industrialists and Entrepreneurs in Ashgabat on Monday.

According to Berdimuhamedov, during the first phase, UIET members constructed and commissioned 337 facilities valued at around 11.5 billion tmt, as reported by Turkmenistan's official media.

UIET members are also involved in the construction of the 600-kilometer Ashgabat–Turkmenabat highway, a major infrastructure project valued at US $2.3 billion. Work on the high-speed motorway is nearing completion.

Since its establishment, the Union has implemented more than 5,300 projects worth nearly 97 billion tmt and has created approximately 425,000 jobs, the National Leader added.

Founded in March 2008, the Union of Industrialists and Entrepreneurs of Turkmenistan is a public organization that brings together representatives of the private sector. It advocates for the rights and legal interests of its members and promotes entrepreneurship in the country. Today, the Union has more than 29,000 members.