UzA English

04.08.2018 01:27

Major investment projects will be implemented together with South Korea

The delegation led by the khokim of Fergana region visited the Republic of Korea and reached agreements on implementation of a number of investment projects.

The delegation led by the regional khokim Sh.Ganiyev held meetings with the leadership of cities of the Republic of Korea Seoul, Incheon, Gwangju, Hwaseong and Phocheon within three days. During the trip the delegation of the region got acquainted with activities carried out in the large free economic zone “Incheon” and the achieved results. A Memorandum of Cooperation was signed between Fergana region and the free economic zone “Incheon”.

Members of the delegation of the region were also impressed with the permanent exhibition of products produced in Uzbekistan, which was organized at the initiative of Evergreen Motors Group in Uzbekistan – Korea business center in Incheon city. Negotiations were held on establishing cooperation with the business center, increasing the export of regional products to the Republic of Korea, as well as attracting Korean investors to Fergana.

At the meeting with the city administration of Gwangju, and with leaders of the Chamber of Commerce and Industry of Gwangju, views were exchanged on cooperation in the economic, social, cultural spheres, transformation of Fergana region into an investment hub. Cooperation agreements were concluded with the Chamber of Commerce and Industry of Gwangju, which unites many large entrepreneurs. An agreement was reached between the delegation of Fergana region and the Gwangju Techno Park on development of scientific research, know-how and innovative technologies, establishing close cooperation while ensuring relations between business and science. The purpose of this agreement is to use the experience of Gwangju Techno Park in creating a Business Techno Park in the region, as well as attracting the leading companies of Gwangju to Fergana region.

Following the meeting at Phocheon city administration, in accordance with a memorandum signed between the administrations of Fergana region and the city of Phocheon-si, Kokand and Phocheon-si will become twin cities. These agreements, providing for the establishment of relations in the field of economy, social, investment and tourism, will be equally useful for both countries.

At the meeting with the president of the large South Korean company Korea Heating Corporation, an agreement was reached on cooperation in reconstruction of the heating system in the cities of the region.

Following the negotiations with the Chung Construction Design Group company, a corresponding memorandum was signed on design and construction of a four-star hotel and complexes of modern multi-storey houses in Fergana. In accordance with the agreement reached with Sang Myong company, direct foreign investments will be introduced for construction of a health tourism center and a medical clinic on 12 hectares in Uchkuprik district. According to the agreement concluded between Dori Engineering and Bakhodir Agrosanoat LLC of Fergana region, a greenhouse will be established on 50 hectares on the basis of hydroponics method, the grown crop will be exported to South Korea.

An agreement was reached with Crechiko company on establishment of a large poultry complex in Fergana and receiving up to 10 thousand tons of chicken meat per year. Based on the agreement reached between Taeho Machinery company and the joint venture Bakhodir Logon Textile in Fergana district, an agreement was concluded on organization of production of knitwear and export of finished products to South Korea. In accordance with the memorandum signed with UKO Global Light company, a project on waste processing and generation on their basis of electricity will be implemented in Fergana.

The delegation of Fergana region signed agreements with a number of companies on implementation of promising investment projects. As a result of implementation of these agreements, the scale of attracting investments from Korea will increase, economic stability will be strengthened.

Masudjon Sulaymonov, UzA
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