Uzbekistan and South Korea signed 35 investment projects and agreements for US$500 million after the investment conference “Free Industrial Economic Zone In Navoi City: New Investment Opportunities for Korean Partners in Uzbekistan” in Seoul, South Korea, on March 5 2009.
The purpose of the conference was to inform the Korean business community of the opportunities of the economic zone, which is to be established in Navoi city, Uzbekistan, and the incentives and privileges offered to foreign investors.
The delegation headed by Rustam Azimov, first deputy prime minister of Uzbekistan, comprising nearly 40 government officials and leading businessmen, took part in the conference.
The conference drew a large crowd of Korean businessmen. More than 1,000 people gathered at the conference, leaving many late participants standing. It is worth to note that the Uzbek side was initially projecting that about 400 to 500 businesses will attend the exhibition.
The range of participants was wide – from large Korean companies such as Daewoo International, Korean Air and Korea National Oil Corp. to medium- and small-sized logistics, recycling and animal drug-producing companies.
The huge participation was a reflection of Koreans” growing interest in the Central Asian country, industry sources said.
Korea is one of the major investors in Uzbekistan”s economy, and its financial and technical assistance plays an important role in the progressive implementation of economic reforms in the country.
