Ambassador of Uzbekistan Vitaly Fen held talks with the Chief Executive Officer of the South Korean company “Cheong Woo Confectionery Co., Ltd.” Park Yoon Goo and Chairman of BOMI Engineering & Construction Co., Ltd. Kim Dok Young.
During the meeting, the sides discussed the prospects for establishing the production of confectionery products on the territory of the free economic zone “Kokand” together with the company “Cheong Woo Confectionery Co., Ltd.”, which is a partner of the company “BOMI Engineering & Construction Co., Ltd.”
Park Yoon Goo informed that Cheong Woo Confectionery Co., Ltd. Since 1986 it has been producing over 100 types of products, including traditional South Korean sweets, chocolate products, rice and corn biscuits. The main sales markets are China, USA, Vietnam, Philippines, Australia, Singapore and other countries. Currently, the South Korean side is considering the issue of expanding production and entering the Central Asian market.
It was separately noted that on the basis of the information received from the Uzbek side, the specialists of the Cheong Woo Confectionery Co., Ltd. continue marketing research. It was emphasized that the volume of imports of Uzbekistan of confectionery products, similar to those produced by the South Korean side, in 2020 increased 5 times compared to 2016. This indicates a rapid growth in the consumption of these products within Uzbekistan, despite the creation of a number of large enterprises with modern technologies in the republic.
The South Korean side received detailed information about the conditions created in Uzbekistan for foreign investors, including benefits and preferences within the framework of free economic zones. Park Yun Goo expressed his readiness to comprehensively study all the materials provided for high-quality preparation for the upcoming negotiations.
At the end of the meeting, an agreement was reached to organize in the near future online negotiations with the leadership of the khokimiyat of the Fergana region to discuss the prospects for the implementation of the investment project in the territory of the FEZ “Kokand”.
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