News on Major Investments in IFEZ
IFEZ Signs an MOU for Cooperation
for the Development of FEZ with Namangan, Uzbekistan
The Uzbek government is continuously sending love calls to IFEZ for benchmarking. On March 8, IFEZ signed a ‘Memorandum of Understanding for Cooperation between IFEZ (Incheon Free Economic Zone) – Uzbekistan Namangan Provincial Government’ in the presence of Commissioner Jin-yong Kim of IFEZ and Premier Bazarov Khayrulla Khayitbayevich of Namangan
Province at the G Tower in Songdo International City.
The MOU for cooperation is mainly about making joint efforts between IFEZ and Namangan Province for development and investment promotion relating to the Namangan FEZ (Free Economic Zone), and cooperating with each other on discovering cooperative projects and
promoting exchange. In particular, the MOU includes the dispatch of IFEZ experts and training of related officials for the vitalization of the Namangan FEZ within Namangan Province.
Also on January 21, Commissioner Jin-yong Kim of IFEZ and the Deputy Premier Kasymov Ilzat Ablahatovich of Tashkent signed an ‘MOU for Cooperation between IFEZ – Uzbekistan Tashkent Provincial Government’ at the G Tower. This MOU for cooperation is mainly about making joint efforts between IFEZ and Tashkent Province for development and investment promotion relating to the FEZ (Free Economic Zone) and cooperating with each other on discovering cooperative projects and promoting exchange. In particular, the MOU includes the dispatch of IFEZ experts and training of related officials for the vitalization of the Angren FEZ within Namangan Province. Tashkent is the most economically developed region in Uzbekistan, and the Angren FEZ is considered as a key area for the economic development
IFEZ consecutively signed Intents of Cooperation with the Bukhara Region in March and Fergana Region in April last year. IFEZ also signed an ‘MOU for Mutual Cooperation between IFEZ and the Uzbekistan Embassy in Korea’, which is mainly about cooperation with the Uzbek Trade Representative moving into Songdo International City.
Uzbekistan currently has 12 FEZs, including seven FEZs in Navoy, Angren, Zizak, Gijduvan, Kokand, Urgut, and Hazorasp, creating new FEZs last year, including Namangan. Uzbekistan is working hard to use FEZ development as the driving force for national development.
[Major Contents of MOU]
- · Joint efforts to develop and promote investment in FEZ (Free Economic Zone)
: Discover cooperative projects, vitalize exchange, and dispatch IFEZ experts and train related officials