An agreement has been reached to open a branch of «Kengnam Bank» in Uzbekistan

A working group of the Republic of Uzbekistan headed by First Deputy Minister of Investment and Foreign Trade Laziz Kudratov visited the Republic of Korea. During the visit, meetings were held with the leadership of the Ministry of Trade, Industry and Energy, the Ministry of Economy and Finance, the Eximbank of the Republic of Korea, as well as a round table and separate bilateral talks with the heads of leading Korean companies.

The issues of accelerating the implementation of major joint projects - "Construction of a multifunctional clinic for adults", "Creation of a medical university", "Construction of an oncological clinic", as well as "Creation of a pharmaceutical cluster "Tashkent Pharma Park" were agreed.

The issue of implementing the second phase of the project to create the Uzbek-Korean Technological Center for Rare Metals and Hard Alloys was discussed with the Ministry of Trade, Industry and Energy. To this end, the Korean side allocates an additional grant of $ 12 million to generate new industrial projects aimed at attracting investments from Korean companies in the extraction and processing of rare and non-ferrous metals in Uzbekistan.

The Korean side also expressed readiness to provide phytosanitary permits for the supply of Uzbek grapes and melons to the Korean market. To date, the Republic of Korea has already granted permits for the supply of 43 types of Uzbek fruit and vegetable products and dried fruits.

At the round tables and meetings in the G2B format, which were attended by representatives of 23 companies, the issues of implementing joint investment projects in various industries were discussed.

Prospects for the development of cooperation in the banking and financial sector were considered separately, in particular, an agreement was reached on the opening of a branch of "Kengnam Bank" in Uzbekistan. As a result of the visit, a corresponding roadmap was approved for the timely and high-quality implementation of all agreements reached with Korean partners.