Uzbek-South Korean investment cooperation expanding

UzA, 22 January 2010, 14:26

The seminar of the joint consultative program for development of the free industrial-economic zone Navoi was held in Tashkent on 20 January.

The event was organized by the Ministry of foreign economic relations, investments and trade jointly with the Ministry of strategy and finance of South Korea, Korean Development Institute and Korean Institute for International Economic Policy.

South Korea is one of the largest investment partners of Uzbekistan. The total volume of investments invested by this country in Uzbekistan has exceeded USD 2 billion.

At the conference on Navoi free economic zone held in March 2009 in Seoul, about 40 agreements on creation of joint ventures were signed between the two countries. They will operate in oil and gas, chemical, pharmaceutical, light industries, machinery building, mining, construction, furniture production, etc.

President Islam Karimov signed a decree on creation of Navoi free economic zone in December 2008. The move is aimed at Increasing the industrial potential of Navoi region, development of transport and social infrastructure, production of high technologies and attraction of foreign investments.

To date, 19 agreements on creation of industrial enterprises in Navoi economic zone worth USD 187 million was signed. After their launch, they will annually produce goods worth USD 375.5 million, lamost half of which will be exported.

This year, launch of 50 projects is expected in Navoi free economic zone.

SK

Latest news:

Comprehensively advanced generation, a reliable backbone of our country

Who has got to the finish line first?

Chimkent sultonlar gilami expands production

Family's role in talent development

Remembering the great ancestors