NAMANGAN / Vodiymedia / – Solemn Signing Ceremony of Investment Agreement on realization of the project of production of Hyundai commercial vehicles was held on November 17, 2018 in Khokimiyat (Government office) of Namangan region, Uzbekistan.
On behalf of the Republic of Uzbekistan the Agreement was signed by Khokim (Governor) of Namangan region Hayrulla Bozarov, on behalf of Korea Republic by vice President of Hyundai Motor In Cheol Lee, Senior vice President of Posco-Daewoo corporation Lee Seung-hun and President of Evergreen Motors Kim Chang Keon.
In the second part of the day, the groundbreaking ceremony of Hyundai plant of trucks and buses took place in Turakurgan district.
The ceremony was attended by Khokim (Governor) of Namangan region Hayrulla Bozarov, Ambassador Extraordinary and Plenipotentiary of Republic of Korea to Uzbekistan Kwon Yong-Woo, vice President of Hyundai Motor In Cheol Lee, Senior vice President of Posco-Daewoo corporation Lee Seung-hun, President of Evergreen Motors Kim Chang Keon, First Deputy Chairman of the State Committee on investments of Uzbekistan Laziz Kudratov, Deputy Minister of Foreign Trade of Uzbekistan Sahib Saifnazarov, responsible officer of the Administration of the President of Uzbekistan Bekzod Yusupov, representatives of official bodies and commercial structures, correspondents of international and national media.
The Korean business delegation and investors from Malaysia, Indonesia, China and Thailand are participated the groundbreaking ceremony of Hyundai plant.
The state visit of President of Uzbekistan Shavkat Mirziyoyev paid to the Republic of Korea on 22-25 November 2017 opened a new page in development of bilateral relations, which are dynamically developing from the first days of our Indedependence. Address by the President of the Republic of Uzbekistan Shavkat Mirziyoyev at the Uzbek-South Korean business forum held during the visit, increased trust of our partners and raised their activeness to enter the Uzbekistan market.
The first vehicle of the new Hyundai plant, to be established by Korean companies Hyundai Motor, Posco-Daewoo corporation and Evergreen Motors will be produced in 2019.
At first, 400 trucks and busses will be produced in the enterprise. Step by step, this figure will be brought to 2500. In accordance with the localization program, the production of 50% of spare parts will be gradually mastered here.
With introduction of this enterprise, about 150 new jobs will be created, and in the future it is planned to bring this figure up to one thousand.