Oguz han engineering and technology university of turkmenistan innovation economics faculty department of innovation economics

Table 1.1 – Share of GDP by sectors.

Industry	Features	Share of GDP, %
Agriculture	Cultivation of cotton, wheat, rice, melons, vegetables and fruits	10
Extractive industry	Oil and gas, sulfur and lead, mirabilite, iodine, bromine	32
Raw materials for the chemical industry	Production of stone, Glauber, table salt, potash	5
Cotton industry	Production of cotton fiber, yarn, carpets	11
Metallurgical industry	Production of construction rolled products (rebar, corners and channels)	7
Energy	10 state owned power plants operate in the country	5
Tourism	Medical tourism in the Avaza tourist zone	1

1.2 Legal regulation of youth entrepreneurship
Legislation is the basis of any activity. The legal basis of entrepreneurial activity is formed by legislative and other normative legal acts, norms of financial, civil, labor, administrative and other branches of law. The central place in this system is occupied by laws on property, on entrepreneurship, on enterprises, on banks and banking activities, on investments, on taxation, etc.
Youth entrepreneurship is regulated by a number of regulatory legal acts. In this document, in the section entitled "Promoting youth entrepreneurship", for the first time, it was proposed to create a system of measures aimed at realizing the innovative potential of young people, facilitating the initial conditions for young citizens to enter market relations. The following measures were proposed:
a) establish the legal status of a youth, student and student enterprise;
b) provide individual, family and collective enterprises of young citizens with tax and credit benefits, provide them with means of production, premises, and cover their commercial risk;
c) issue sureties and guarantees;
d) finance training in the basics of entrepreneurship and assist in the development of constituent documents;
e) exempt young citizens from paying the registration fee for individuals engaged in entrepreneurial activities without forming a legal entity;
f) establish subsidies and tax incentives to cover part of the entrepreneur's expenses in the first three years of production of goods and services according to the list established by the relevant state authorities and management;
g) provide one-time grants to support projects and proposals designed for the benefit of young people that are innovative in nature, as well as aimed at expanding the possibilities of self-provision for young people.
The above measures should apply to youth entrepreneurship entities, which include:
a) an individual under the age of 30 who is registered as an individual entrepreneur and is a student or graduate of an educational institution of professional education;
b) a legal entity in whose authorized capital the share owned by individuals under the age of 30 who are students and / or graduates of professional education institutions is not less than 50%;
The subjects of state policy in the field of youth entrepreneurship in accordance with the draft law of Turkmenistan "On State support for youth entrepreneurship", which was prepared in order to create conditions for the development of entrepreneurial initiatives among young people in Turkmenistan, the legislative establishment of tools and mechanisms to support the business activity of young people (the project was not adopted), include:
a) young people (young citizens);
b) authorized state executive bodies;
c) authorized executive authorities of the constituent entities of Turkmenistan;
d) local self-government bodies;
e) educational institutions accredited in accordance with the current legislation;
f) public associations and their associations;
g) enterprises and organizations of all forms of ownership;
h) credit institutions;
i) specialized organizations provided for by the current State law;
j) citizens of Turkmenistan
Agency for Youth Affairs, is currently implementing the state policy to support youth entrepreneurship. The following projects have already been implemented:
a) "School of Youth entrepreneurship";
b) Youth Educational Forum;
c) youth innovation convention;
d) young TV studios ("White Light").
The main objectives of this policy are:
a) training a generation of young entrepreneurs;
b) solving the problem of youth employment by starting their own business;
c) ensuring the development of small businesses in the future. Despite the fact that a single comprehensive system of support for youth entrepreneurship is still not built, individual events held in this area of AI are very much in demand.
The main types of support to youth entrepreneurship entities are:
a) property support;
b) information support;
c) support in the promotion of goods produced by youth business entities;
d) consulting support;
e) legal support;
e) support in the field of training, retraining and advanced training of personnel.