Uzbekistan, South Korea sign about 10 memorandums
Baku, Azerbaijan, August 15
By Fakhri Vakilov - Trend:
A business forum was held in Samarkand with the participation of entrepreneurs from the Samarkand region of Uzbekistan and South Korea, where about 10 memorandums were signed, Trend reports via Uzbek media.
At the business forum, representatives of 45 firms and companies from South Korea discussed cooperation with more than 200 Samarkand entrepreneurs in the fields of ICT, pharmaceuticals, tourism, light industry, household and electrical engineering, construction materials, modern urban planning and other areas.
Presentation of the projects took place; meetings in the B2B format were organized.
In particular, the parties agreed to build a modern hotel in Samarkand with a total cost of $100 million by Wongwang Construction and NEO & Saram CO and to implement a milk powder project with a total value of $30 million in conjunction with MIR Corporation.
Moreover, memorandums of cooperation with Alchera on information technology and the establishment of greenhouse services with Myung Sung were signed.
Currently, 25 joint ventures and 10 foreign enterprises operate in Samarkand with the participation of South Korean investments. They specialize in the production of yarn, silk, knitted fabrics, children's clothing, carpets, building materials, furniture, and agricultural processing.
If last year the trade turnover between the Samarkand region and the regions of South Korea amounted to more than $22.47 million, then only in the first half of this year it already exceeded $21 million.
Follow author on Twitter:@vakilovfaxri