15 June 2022

Prospects for cooperation with UNIDO ITPO Korea to attract foreign investment and modern technologies to Uzbekistan were discussed in Seoul

Uzbek diplomats met with the coordinator for investment promotion of the South Korean Office for the Promotion of Investments and Technologies of the United Nations Industrial Development Organization (UNIDO ITPO Korea) Kim Chong Min.

The main mission of UNIDO ITPO Korea is the implementation of various projects to promote South Korean investments and industrial technologies in developing countries. Thus, UNIDO ITPO Korea encourages South Korean companies and assists them in expanding and developing their business abroad.

During the meeting, Kim Chong Min informed about the main activities and ongoing programs of the organization both in South Korea and abroad. He also noted that the priority of Uzbekistan among South Korean companies and at the level of the South Korean government is growing every year. In this regard, UNIDO ITPO Korea is developing active activities in the direction of Uzbekistan to develop cooperation and implement relevant programs of the organization.

Separately, ongoing projects in Uzbekistan were noted, in particular, a training seminar scheduled for early July this year in Tashkent to build the capacity of Uzbek specialists in the development and evaluation of investment projects. To participate in this training seminar, participants are being selected from the relevant ministries and departments of Uzbekistan. According to Kim Chong Min, the event is expected to be attended by representatives at the level of heads of departments from the Ministry of Investment and Foreign Trade and the Ministry for the Development of Information Technologies and Communications of Uzbekistan.

The talks also discussed the organization’s planned program to study the South Korean experience in attracting foreign investment and promoting foreign projects. To participate in this event, which is scheduled for October-November, it is planned to attract representatives of the Ministry of Investment and Foreign Trade and its subordinate organizations.

At the meeting, the parties also exchanged views on promising areas of cooperation and priority sectors for attracting South Korean investments and modern technologies to Uzbekistan.

In particular, the importance of implementing joint projects in Uzbekistan in the energy, textile, pharmaceutical, leather and footwear and other sectors with the attraction of investments and technologies from South Korean companies was separately emphasized.

As a result of the meeting, an agreement was reached to intensify and continue close cooperation in the implementation of relevant programs of UNIDO ITPO Korea for the development of the considered priority sectors of Uzbekistan.