Incheon Free Economic Zone (IFEZ) Authority announced on March 10 that it has signed a memorandum of understanding (MOU) with the Namangan Region Government of Uzbekistan for FEZ development and investment promotion.
It is the fourth MOU between IFEZ Authority and Uzbekistan. Earlier, IFEZ Authority concluded MOUs with Bukhara and Fergana in March and July 2018, respectively. In addition, its MOU with the Tashkent government was signed in January this year for Angren FEZ development. The Embassy of Uzbekistan in South Korea and IFEZ Authority signed a cooperation MOU at the Korea-Uzbekistan Business Center in Songdo in April 2018, too.
The MOU between the Namangan Region Government and IFEZ Authority is to make joint efforts for FEZ development and investment promotion and work together for joint projects and more economic exchange.
“We will keep working closely with Uzbekistan so that our experience regarding FEZ development and management can be shared with Uzbekistan and FEZs in the country can be operated better,” IFEZ Authority explained.