The trade, economic and tourism potential of Uzbekistan was presented in South Korea

A business forum dedicated to the trade, economic and tourism potential of Uzbekistan was held in the South Korean city of Gwangju, the correspondent of “Dunyo” news agency reports.

The forum was organized by the Embassy of Uzbekistan, the Korean-Uzbek Business Association and the administration of the Gwangsan-gu district of Gwangju. The forum was attended by representatives of the Association of Small and Medium Businesses, as well as representatives of leading companies “Daewoong SNT”, “Howon”, “Ganghwa”, “Hyundai Hi-Tech”, “Daehan food”, “Nanum tech”, working in the automotive industry , medical equipment manufacturing, solar power plants, agriculture and water treatment.

The event participants were familiarized with the progress of large-scale reforms implemented in the economic, political and social spheres in Uzbekistan in recent years. Information was also presented on the development of small and medium-sized businesses in our country, the tourism and investment potential of the republic, favorable conditions and advantages created for foreign investors.

Information and video materials about trade, economic, investment and tourism opportunities in the Tashkent, Syrdarya, Jizzakh and Samarkand regions were distributed among those gathered.

The event participants highly appreciated the transformations in Uzbekistan, including the liberalization of the economy, the development of foreign trade, and expressed interest in establishing cooperation in these areas.

The mayor of the Gwangsan-gu district, Park Byung-gyu, noted the high interest in South Korea in the rich culture, history and architectural monuments of our country, and highly appreciated the tourism potential of Uzbekistan. He declared the region’s readiness to establish cooperative relations with the Syrdarya, Navoi and Samarkand regions in the trade, economic, investment, tourism, cultural and humanitarian spheres.

Chairman of the Korean Association of Small and Medium Businesses Choi Bongyu, in turn, noted that, thanks to the large-scale economic reforms implemented in our country in recent years, the interest of South Korean businessmen in Uzbekistan is growing. He said that the number of requests to the Association on issues of doing business in the republic has increased sharply.

Forum participants received comprehensive answers to their questions about doing business and creating joint ventures in our country.

As a result of the event, agreements were reached on organizing joint business forums and conferences with the participation of representatives of the business circles of the two countries, as well as organizing an exhibition of Uzbek products in Gwangju, organizing a study visit of companies in the city of Gwangju with the aim of holding negotiations on establishing economic cooperation.

It should be noted that Gwangju is the sixth largest city in the Republic of Korea; the textile and automotive industries are well developed here, and rice is grown. The city’s leadership has embarked on an ambitious project to develop artificial intelligence and transform Gwangju into one of the leading areas in this field. Until 2029, it is planned to invest $769 million in the development of this sector in order to create the appropriate infrastructure to attract foreign companies and human resources.