Tashkent, Uzbekistan (UzDaily.com) -- On 13 December, a meeting was held at the Panarams Radisson Hotel with leading Korean investors with the participation of representatives of ministries and departments of the Republic of Uzbekistan.

The meeting was organized in cooperation with the Chamber of Commerce and Industry of Uzbekistan and the Embassy of Korea in Uzbekistan. The main purpose of the meeting is to discuss and solve the problems reported by 100 Korean companies during the survey.

The event was opened with an opening speech by the Ambassador of the Republic of Korea to Uzbekistan Kim Hee Sang and the Chairman of the Chamber of Commerce and Industry of Uzbekistan Davron Vakhabov.

In his speech, Davron Vakhobov noted that trade, economic and investment cooperation between Korea and Uzbekistan has risen to a new level in recent years, that the Republic of Korea is in the top 5 countries with the largest foreign trade turnover with Uzbekistan, and that today 930 enterprises with the participation of Korean capital, including 380 joint ventures and 550 foreign enterprises operating on the basis of 100 percent Korean capital.

The main activities of these enterprises are: trade, transport and logistics, information technology, the provision of various services, construction and others.

It should be noted that in order to further develop mutual cooperation between the Chamber of Commerce and Industry of the Republic of Uzbekistan and a number of Korean organizations, including the Korea International Cooperation Agency, the Korean International Trade Association, as well as between the secretariat of the Korea-Central Asia Cooperation Forum, mutual visits and projects of various sizes were organized.

As of January-September 2022, the trade turnover between two countries is US$1.8 billion and has increased by 5.1% compared to 2021. In particular, in the areas of transport, construction, textiles, food and chemical industries.

Korean entrepreneurs noted that in recent years targeted economic reforms have been systematically implemented in Uzbekistan, including a number of legal and financial opportunities to attract foreign investment, and measures are being taken to increase the investment attractiveness of the republic.

Also, Korean investors have stated some of the problems they face in their activities. Most of the problems were solved by the relevant ministries and departments during the event, instructions were given on some issues to solve them.

Meetings in this format show a high result in creating more favorable conditions for the successful work of Korean investors in Uzbekistan, as well as in establishing and strengthening cooperation between the business circles of the two countries.