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.
- EUROPEAN PARLIAMENT-NEWS: EU budget debate ahead of crucial summit
- FIRST UKRAINIAN BANK: FUIB has opened a branch in Gorishni Plavni
- ASIAN DEVELOPMENT BANK: ADB Unveils Venture Platform to Invest in Impact Technology Startups
- EURASIAN DEVELOPMENT BANK: EDB will expand its presence in Kazakhstan
- GOVERNMENT OF BELARUS: Belarus president talks about viability of alternative oil delivery options
- PROMIVESTBANK - UKRAINE: For clients of Prominvestbank PJSC
- ASIAN DEVELOPMENT BANK: Registration Opens for ADB's 53rd Annual Meeting
- EUROPEAN INVESTMENT BANK: European Commission and EIB Group join forces to boost space sector investment with EUR 200 million of financing
- NATIONAL BANK OF UKRAINE: The National Bank has agreed on the terms and conditions of activity of Ukraine's Clear Junction international payment system
- INTERNATIONAL MONERTARY FUND: Andorra Applies for IMF Membership