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.
- FIRST UKRAINIAN BANK - UKRAINE: FUIB doubled sales of OSAGO insurance policies
- CENTRAL BANK OF AZERBIJAN: On holding auctions on attracting funds by the Central Bank
- UNICREDIT - AZERBAIJAN: UniCredit launches first ETFs combining factor strategy with ESG criteria on European equities
- THE BLACK SEA TRADE AND DEVELOPMENT BANK: AIIB, EBRD and BSTDB co-finance expansion of Turkey’s largest geothermal power plant
- GOVERNMENT OF BELARUS: Lukashenko: Belarus wants to deepen economic ties with Latvia
- GOVERNMENT OF ARMENIA: Open Government Partnership Initiative Working Group Holds Meeting
- EUROPEAN INVESTMENT BANK: France: Derichebourg receives EIB financing of 130 million euros under the Juncker Plan
- INTERNATIONAL MONETARY FUND: IMF Executive Board Completes the Second Review under the Extended Credit Facility Arrangement and Approves US$25 Million Disbursement to Burkina Faso
- ARMECONOMBANK - ARMENIA: Salary Card with 70% Discount
- ASIAN DEVELOPMENT BANK: ADB Sells 60 Million Lari Dual-Tranche Domestic Bonds in Georgia