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Monday, February 17, 2020

Korean business delegation visits Uzbekistan

A Korean business delegation consisting of approximately 50 entrepreneurs made an official visit to Uzbekistan on Feb. 27.

The delegation was headed by Ang Hyun-ho, the deputy chairman of the Korea International Trade Association. The main purpose of the visit was to provide Korean businessmen with complete information about the investment climate in Uzbekistan as well as the benefits and guarantees provided for foreign investors.

As part of the visit, Korean businessmen traveled to the Angren special industrial zone. They first visited Angren Shakar, a production and packaging plant that will begin operations in June. Funded entirely by Singaporean investment, the plant, with a projected cost is $110 million, has a production capacity of 1,000 tons of sugar per day.

"Before, there was only Khorezm Shakar, which had been supplying 60 percent of sugar for the needs of the domestic market, with the rest being imported," Alexei Madkarimov, the head of Angren Shakar, said. "After the launch of our plant, 100 percent of the demand for sugar will be satisfied by local companies. Moreover, 50 percent of production will be exported."

The delegation also visited the Angren Pipe Plant, the Angren International Logistics Center, JV EGL-NUR and the Angren silicon plant.