BAKU, Azerbaijan, September 14. Uzbekistan’s
Fergana region and South Korea’s Seongnam Special Industrial Zone
have signed a memorandum of cooperation aimed at expanding
industrial ties, attracting advanced technologies and developing
joint investment projects.
This was reflected in the statement by the Fergana regional
administration, following a working visit to South Korea by a
Fergana regional delegation led by Governor Khayrullo Bozorov.
The agreement is intended to strengthen industrial cooperation
between Fergana and Seongnam, promote the introduction of modern
technologies and support the joint implementation of investment
projects. It also provides for closer direct links between
businesses from the two sides.
The agreement comes as Fergana seeks to expand cooperation with
South Korean high-tech and industrial companies and attract new
investment and technologies to the region.
“The memorandum creates a framework for moving from dialogue to
practical cooperation, including technology transfer, investment
projects and direct business partnerships,” the Fergana regional
administration said.
In addition to the regional-level memorandum, cooperation
agreements were signed between businesses from Fergana and more
than 10 companies operating in Seongnam’s special industrial
zone.
The agreements are expected to provide a basis for companies to
explore specific areas of cooperation and develop joint projects,
while strengthening direct business-to-business ties between
Uzbekistan and South Korea.
For Fergana, cooperation with the Seongnam industrial zone could
provide access to South Korean technologies, business expertise and
potential investment partners. The region is seeking to develop its
industrial base while increasing the role of technology and
innovation in economic growth.
The signing of the agreements marks another step in the
expansion of Fergana’s cooperation with South Korean regions and
companies, with the sides now expected to focus on translating the
agreements into concrete industrial and investment projects.
Seongnam is one of South Korea’s major industrial and technology
centers and is home to a significant concentration of companies
involved in advanced manufacturing, information technology,
artificial intelligence, biotechnology and other high-tech
industries.
