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Prospects of cooperation with Korea’s UNIDO ITPO to attract foreign investment and modern technologies to Uzbekistan discussed in Seoul

Uzbek diplomats met with Kim Chong Min, Investment Promotion Coordinator of the United Nations Industrial Development Organization (UNIDO ITPO Korea) South Korea’s Bureau for Investment and Technology Promotion.

The main task of UNIDO ITPO Korea is to implement various projects to promote South Korean investment and industrial technology in developing countries. Thus, UNIDO ITPO Korea encourages South Korean companies and helps them expand and develop their business abroad.

During the meeting, Kim Chong Min briefed on the organization’s main activities and programs in South Korea and abroad. He also noted that Uzbekistan’s priority at the level of South Korean companies and the South Korean government is growing every year. In this regard, UNIDO ITPO Korea is actively working in the direction of Uzbekistan to develop cooperation and implement relevant programs of the organization.

In particular, it was noted that a training seminar on capacity building of Uzbek specialists in the development and evaluation of investment projects will be held in Tashkent in early July. Participants from relevant ministries and agencies of Uzbekistan are being selected to participate in this training seminar. According to Kim Chong Min, the event is expected to be attended by representatives of the Ministry of Investment and Foreign Trade of Uzbekistan and the Ministry of Information Technologies and Communications.

The talks also discussed the organization’s planned program to study the experience of South Korea in attracting foreign investment and promoting foreign projects. Representatives of the Ministry of Investment and Foreign Trade and its affiliated organizations are expected to take part in the event, which is scheduled for October-November.

The sides also exchanged views on promising areas of cooperation and priority areas for attracting South Korean investment and modern technologies to Uzbekistan.

In particular, the importance of implementing joint projects in Uzbekistan in the fields of energy, textiles, pharmaceuticals, leather and footwear with the involvement of investments and technologies of South Korean companies was emphasized.

Following the meeting, an agreement was reached to intensify and continue close cooperation in the implementation of relevant programs of Korea UNIDO ITPO on the development of priority sectors of Uzbekistan.