With an eye on export. Korean business invited to expand industrial production in Uzbekistan
With an eye on export. Korean business invited to expand industrial production in Uzbekistan
Uzbekistan intends, together with Korean companies, to increase industrial production and boost supplies of finished products to foreign markets. Among the priorities is the formation of full-fledged production chains within the country.
This was stated by the President of Uzbekistan Shavkat Mirziyoyev at the Uzbek-Korean business forum in Seoul. Korean business was invited to participate in projects for copper processing, production of electrical equipment, and manufacturing of components for the automotive and electric vehicle industries. Another area will be the introduction of robotics and automation.
The authorities are banking on combining Uzbekistan's raw material potential with South Korea's technologies and investment opportunities. This is expected to allow a transition from individual production operations to the manufacture of products with higher added value.
Special attention is paid to the development of technological cooperation and the introduction of modern solutions at enterprises. The ultimate goal is to expand the range of competitive products and the possibilities of their supply to foreign markets.
It is also reported that Uzbekistan plans to increase exports of electrical products to 5 billion dollars by 2030. The volume of production in the industry and related sectors is intended to be increased to 11 billion dollars.