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20/October/2020   Economic Diplomacy

Uzbekistan and South Korea’s Shindong Resources are implementing a joint project in Navoi region


SEOUL, October 20. /Dunyo IA. Virtual talks have been held between the First Deputy Minister of Investments and Foreign Trade of the Republic of Uzbekistan Laziz Kudratov, Chairman of Shindong Resources company, Chairman of Korea Uzbekistan Business Association Kim Yong-gu and Vice-Chairman of this association Kim Chang-Keon, reports IA “Dunyo” correspondent.

During the talks, issues related to the acceleration of the implementation of the project for the development of a metal ore deposit at Soutbay site in Navoi region were considered.

Representatives of South Korea noted the completion of a feasibility study of the project, which will be sent to the Uzbek side for consideration, assessment of its effectiveness and payback. This important investment project for Uzbekistan provides for the creation of a full-fledged cluster for the extraction and processing of metallurgical raw materials and production of export-oriented products with high added value.

The parties agreed on joint steps to implement measures aimed at providing the project with external infrastructure, as well as considering the tax rates for the use of subsoil. The Uzbek side expressed its readiness to provide all kinds of assistance in the successful implementation of the project and its promotion for the development of the country’s industry.

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