Korean delegation get acquainted with favorable conditions created in Angren SIZ

UzReport 27.02.2014

     These days a Korean business delegation consisting of about 50 entrepreneurs are in Uzbekistan on an official visit. The delegation is headed by the deputy chairman of the Korea International Trade Association Ang Hyun-ho. The main purpose of this visit is to provide Korean businessmen with complete information about the investment climate in Uzbekistan, the benefits and guarantees provided for foreign investors. Yesterday, as part of the visit Korean businessmen visited Angren special industrial zone (SIZ).
     The guests first visited “Angren Shakar”, whose construction began in 2013. With construction works completed, the production and packaging plant will soon begin to operate, as well as a workshop for making bags. The company, with 100 percent of Singaporean investment, has a production capacity of 1,000 tons of sugar per day.
     "Before, there was only “Khorezm Shakar” in Uzbekistan and it had been supplying 60% of sugar for the needs of the domestic market, the rest being imported, - says the head of “Angren Shakar” Alexei Madkarimov. - After the launch of our plant 100% of the demand for sugar will be satisfied by local companies. Moreover, 50% of production will be exported".
     "The plant is fully automated, the equipment is German. Only modern equipment is used in the production, that provide environmental cleanliness of products, and also help to reduce costs," added Alex Madkarimov.
     Plant’s project cost is $110 million and it will start operations in June this year and will employ over 400 people.
     The guests also visited and got acquainted with the activities of Angren Pipe Plant, Angren International Logistics Center, JV EGL-NUR and Angren silicon plant.
     Then a presentation was made on tax and customs privileges, guarantees given to foreign investors in Angren SIZ. For more information visit our website later.
     Add that as part of the program of the visit on February 27 in Tashkent will be held the Uzbek-Korean Business Forum and Cooperation Exchange with business circles of both countries.