BAKU, Azerbaijan, September 14. Uzbekistan’s Fergana region and South Korea’s Seongnam Special Industrial Zone have signed a memorandum of cooperation aimed at expanding industrial ties, attracting advanced technologies and developing joint investment projects.
This was reflected in the statement by the Fergana regional administration, following a working visit to South Korea by a Fergana regional delegation led by Governor Khayrullo Bozorov.
The agreement is intended to strengthen industrial cooperation between Fergana and Seongnam, promote the introduction of modern technologies and support the joint implementation of investment projects. It also provides for closer direct links between businesses from the two sides.
The agreement comes as Fergana seeks to expand cooperation with South Korean high-tech and industrial companies and attract new investment and technologies to the region.
“The memorandum creates a framework for moving from dialogue to practical cooperation, including technology transfer, investment projects and direct business partnerships,” the Fergana regional administration said.
In addition to the regional-level memorandum, cooperation agreements were signed between businesses from Fergana and more than 10 companies operating in Seongnam’s special industrial zone.
The agreements are expected to provide a basis for companies to explore specific areas of cooperation and develop joint projects, while strengthening direct business-to-business ties between Uzbekistan and South Korea.
For Fergana, cooperation with the Seongnam industrial zone could provide access to South Korean technologies, business expertise and potential investment partners. The region is seeking to develop its industrial base while increasing the role of technology and innovation in economic growth.
The signing of the agreements marks another step in the expansion of Fergana’s cooperation with South Korean regions and companies, with the sides now expected to focus on translating the agreements into concrete industrial and investment projects.
Seongnam is one of South Korea’s major industrial and technology centers and is home to a significant concentration of companies involved in advanced manufacturing, information technology, artificial intelligence, biotechnology and other high-tech industries.
