Kyrgyzindustry, Korean plant industry discuss cooperation issues

Bishkek, April 30, 2022 . /Kabar/. Vice-Presidents of Kyrgyzindustry OJSC for Industrial Sectors Zhyrgalbek Sagynbaev and for Foreign Economic Relations and Trade Azamat Baiyshbekov met with Park Heung Seok, the CEO and Director General of the Korean Association of Plant Industry. The Korean delegation got acquainted with the activities of the company, as well as with the existing economic projects, Kyrgyzindustry said. The Korean side was also informed about experience of work with partners from China. In particular, about the planned establishment of a subsidiary company Kyrgyzelectronics to assemble various types of printers, control and cash registers and other electrical household appliances. The Kyrgyz side also urged businessmen from Korea to explore the possibility of investing in Kyrgyzstan in such sectors as mechanical engineering, pharmaceuticals, mining, food and light industries. Park Heung Seok expressed interest in investing in the Kyrgyz economy. Also, taking into account the profile of his company, he voiced an opinion on possible cooperation in the energy sector. In particular the construction of small and large hydropower plants, wind farms, waste processing plant with the subsequent extraction of energy by special incineration of household waste. Zhyrgalbek Sagynbaev informed in detail the Korean delegation about the tax system of the country in general and tax concessions. In addition, he noted the advantages of Kyrgyzstan in the framework of the EAEU cooperation, which gives the opportunity to enter the multimillion-dollar market. The Korean businessman noted that he would certainly inform the Korean business community about existing economic projects in Kyrgyzstan. Park Heung Seok also noted the interest of some businessmen in cooperation with the Kyrgyz side, with special emphasis on the opening of direct flights between the countries, which will contribute to further cooperation.