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Uzbekistan’s Ministry of Innovative Dev’t signs memorandums with int’l investors

Finance Materials 5 November 2020 11:20 (UTC +04:00)
Uzbekistan’s Ministry of Innovative Dev’t signs memorandums with int’l investors

BAKU, Azerbaijan, Nov. 5

By Klavdiya Romakayeva - Trend:

The Ministry of Innovative Development of Uzbekistan signed memorandums of understanding with investors from Turkey, India and South Korea for a total of $230.6 million, Trend reports with reference to the ministry.

The signing of the memorandums took place on the first day of INNOWEEK-2020 International Week of Innovative Ideas.

An agreement was reached for $229.6 million with the Turkish company JFC Enerji Yatirim Sanayi ve Ticaret A.S. specializing in the development of food, cosmetics, textiles, construction products by processing industrial hemp seeds.

The ministry also reached an agreement with South Korean TOV Clean Co Ltd to set up a production of environmentally friendly household chemicals using innovative technologies worth $1 million.

In addition, a memorandum of understanding was signed between the Ministry of Innovative Development and Zen Technologies Limited in India, as well as Portuguese Take The Wind on the transfer of technologies and intellectual property.

At the same time, 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.

The parties also agreed on active cooperation in financing research projects, venture financing of innovative activities and other areas.

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