Uzbekistan to improve level of scientific solutions into business, economy through project with KOICA (Exclusive)

BAKU, Azerbaijan, Nov. 8

By Fakhri Vakilov-Trend:

Korea International Cooperation Agency (KOICA) received a proposal for implementation of new project "Creating business incubators and stimulating entrepreneurial growth in Uzbekistan" jointly with the Chamber of Commerce and Industry of Uzbekistan (CCIU), Project Manager at KOICA Uzbekistan Office Rustambek Muhtarov told Trend in an interview.

“The main objectives of the project are the creation of favorable conditions for the development of entrepreneurship, improving the business environment and facilitating the establishment of innovative business in cooperation with foreign partners,” Muhtarov added.

Muhtarov stated that through implementing the above project Uzbekistan will be able to increase the level of implementation of the scientific solutions into business and economy.

“We will also be able to enhanced interaction of hi-tech companies with the local business entities. We will get technologically well-designed business oriented universities and ICT development in terms of internet connection quality,” KOICA project manager said.

According to the project manager, the number of encouraged people to run their own business will increase through this project as well.

“Another achievement will be the research on priority sectors of economy, perspective for encapsulating of innovation practices and increased number of commercialized developed know-how ideas and innovative solutions,” Muhtarov added.

Korea International Cooperation Agency is a government agency responsible for implementing grant aid programs through rendering technical assistance, supporting socio-economic development and enhancing international development cooperation as well as strengthening partnership ties with partner countries. KOICA has offices in 44 countries worldwide.

KOICA started the development cooperation with Uzbekistan in 1992 and during the years of cooperation KOICA, jointly with Uzbekistan’s Government, has worked on over 30 various projects, amounting to a total of more than $125 million, ranking 1st in volume among the Central Asian countries.

According to the Korean Official Development Assistance (ODA) policy, at least 70 percent of ODA will be allocated to priority areas of bilateral cooperation. And the priority areas are determined by KOICA’s mid-term ODA plan called the CPS for Uzbekistan.

This CPS details how Korea intends to assist Uzbekistan to achieve its development objectives. The partnership is based on mutual understanding and respect, and is aimed at improving effectiveness by linking Korea’s development experience and Uzbekistan’s development plan.

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Follow author on Twitter:@vakilovfaxri

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