BAKU, Azerbaijan, Mar. 16
By Klavdiya Romakayeva - Trend:
South Korean Cheong Woo Confectionery Co., Lt, a partner of BOMI Engineering & Construction Co., Ltd., plans to establish the production of confectionery products on the territory of the Kokand free economic zone (FEZ), Trend reports citing the Embassy of Uzbekistan in South Korea.
It is reported that the Ambassador of Uzbekistan Vitaly Fen held talks with the Chief Executive Officer of Cheong Woo Confectionery Co., Ltd. Park Yoon Goo and Chairman of BOMI Engineering & Construction Co., Ltd. Kim Dok Young.
Park Yoon Goo informed that Cheong Woo Confectionery Co., Ltd. has been producing over 100 types of products, including traditional South Korean sweets, chocolate products, rice, and corn biscuits since 1986. The main sales markets of the company are China, the USA, Vietnam, the Philippines, Australia, Singapore, and other countries.
“Currently, the South Korean side is considering the issue of expanding production and entering the Central Asian market,” he noted.
Also, it was noted that the specialists of the Cheong Woo Confectionery Co., Ltd. continue marketing research on the basis of the information received from the Uzbek side.
It was emphasized that the volume of imports of Uzbekistan of confectionery products similar to those produced by the South Korean side in 2020 increased by five times compared to 2016.
“This indicates a rapid growth in the consumption of these products within Uzbekistan, despite the creation of a number of large enterprises with modern technologies in the country,” the message said.
The South Korean side received detailed information on the conditions created in Uzbekistan for foreign investors, including benefits and preferences within the framework of free economic zones.
Following the meeting, the parties reached an agreement to organize online negotiations with the leadership of the administration of the Fergana region to discuss the prospects for the implementation of the investment project on the territory of the Kokand FEZ.
---
Follow the author on Twitter: @romakayeva