The Ministry of Innovative Development of Uzbekistan signed Memorandums of Understanding worth $230.6 million.

On the first day of the International Week of Innovative Ideas “InnoWeek 2020”, the Ministry of Innovative Development of Uzbekistan signed Memorandums of Understanding with investors from Turkey, India and South Korea worth $230.6 million.

An agreement has been reached for $229.6 million with Turkey’s JFC Enerji Yatirim Sanayi ve Ticaret A.S., specializing in development of food, cosmetics, textiles, construction products by processing industrial hemp seeds.

An agreement was reached with TOV Clean Co. Ltd. (South Korea) to set up a production of environmentally friendly household chemicals using innovative technologies worth one million dollars.

Memorandum of Understanding was signed between the Ministry of Innovative Development and Zen Technologies Limited (India), as well as Take the Wind (Portugal) on the transfer of technology and intellectual property.

Agreements were reached with investors on technology transfer, exchange of knowledge and experience, implementation of joint innovation projects, organization of joint competitions for startups and innovation projects.

UzA