South Korea's company of NCG Engineering will establish to create an industrial zone with a wide range of products through direct foreign investment.
This was announced by President of the Company Jang Il Kweon at a meeting with governor of Syrdarya region Gafurjon Mirzaev. At the end of the meeting, the sides reached agreement on the implementation of the project.
The company was founded in 2013 and its headquarters in Uzbekistan is located in Tashkent.
NCG Engineering is also building a cement plant in the Sherabad district of Surkhandarya region and a waste processing plant in the Almalyk city of Tashkent region.
Our correspondent in Syrdarya region A. Shernazarov said that 200 hectares of land will be allocated for the project to be implemented in Bayaut. More than 100 manufacturing companies will operate in the area. In order to implement the project $ 300 million will be invested.
"Favourable investment climate is being created in your country for foreign investment. Another important aspect is that Uzbekistan is in the center of Euroasia. Thanks to this geographical location, there is a great potential for access to markets in different parts of the world, and this is important in exporting. It should be noted that all of our products, such as shoes, car accessories, materials will be export-oriented, as well as replacing imports. Once our project is fully implemented, more than 10,000 new jobs will be created in the industrial zone", said Jang Il Kweon, president of NCG Engineering.
In a business dialogue with the president and representatives of NCG Engineering, a presentation with title "Investment potential of Syrdarya region" was also held.