Uzbekistan signs MoU with Samsung Electronics
Baku, Azerbaijan, Sept. 9
By Fakhri Vakilov-Trend:
A solemn ceremony of signing a memorandum of understanding (MoU) between Uzbek companies Technopark and Uzeltehsanoat Association, and Samsung Electronics held on September 9, Trend reported referring to Uzbek media.
The memorandum signed on the project “Organization of the production of refrigerators”. The ceremony was attended by Deputy Prime Minister of Uzbekistan Elyor Ganiev and President of Samsung Electronics Hyun Suk Kim.
Under MoU, Uzbek companies will begin production of refrigerators under the Samsung brand. It is planned that 80 percent of manufactured refrigerators will be exported to the CIS countries.
The production of refrigerators is planned to begin in the near future. At the moment, work has already begun on the construction of a new plant on the basis of the existing Tashkent Mechanical Plant JSC.
It is worth noting that the production of Samsung refrigerators is a very important, but only the initial stage. In the future, production will be expanded and other projects launched.
Moreover, the new cooperation is contributing to the development of the electrical industry of Uzbekistan, as well as increasing the volume of production of imports and exports.
The launch of such projects clearly indicates that Uzbekistan is gradually rising to a leading position in Central Asia in the production of household appliances. In the list of CIS countries, there is practically no a state that could compete with Uzbekistan in this area, the news report said.
Representative offices of more than 70 South Korean companies and over 630 enterprises with the participation of South Korean investments are operating in Uzbekistan today. In 2018, more than 150 enterprises with South Korean investments were formed.
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