Tashkent, Uzbekistan (UzDaily.com) -- A meeting was held at the Uzcharmsanoat Association with an investor from the Republic of Korea, the head of Selen CO LTD, Mr. Kim Hyunheui. During the dialogue, the proposals of the Korean investor on the implementation of a new project in the Navoi region were discussed in detail.

At the beginning of the meeting, the leadership of the Association informed the entrepreneur about the latest changes in the legislation in the leather, footwear and fur industries, as well as the benefits provided to investors. In turn, Mr. Kim Hyunheui noted that in Uzbekistan there is a growth dynamics in the leather and footwear industry, so his company is interested in investing in Uzbekistan.

The head of Selen CO LTD spoke about his plans to create a new JV NAV SILIN LLC on the territory of the Navoi FEZ. Its activities will be focused on the production of synthetic yarn. The cost of the project is estimated at US$6 million. The production capacity of the new facility will reach 120 tons of products per year. The new facility is scheduled to launch in 2023. As a result of the launch of production lines, more than 200 people will be provided with permanent work.

The leadership of the Association fully supported the initiative of the Korean company and expressed their readiness to closely cooperate with it, provide methodological and practical assistance. The necessary organizational issues for the opening of a new joint venture were discussed in detail.