Uzbekistan Studies Korean Model of Special Economic Zones

The delegation familiarized themselves with the management of the Incheon Free Economic Zone, approaches to modernizing such territories, and their use for regional development

Representatives of Uzbekistan studied practical mechanisms for the creation, development, and management of special economic zones in South Korea. The study visit took place on September 20–23 at the initiative of the Asian Development Bank with the support of the Republic of Korea's 'e-Asia and Knowledge Partnership Fund' (EAKPF). The delegation included representatives from the Ministry of Investment, Industry and Trade, the Ministry of Economy and Finance, and the Presidential Administration.

As part of the program, Uzbek specialists attended an international seminar, the Incheon Free Economic Zone, and other special economic zones. Participants studied the organization of work in such territories, existing management models, and tools for their modernization. The role of special zones in stimulating the economic development of individual regions was considered separately.

Image source: UzDaily

In addition to issues of economic zone management, representatives of Uzbekistan held meetings with Korean government bodies and experts from the academic community. The parties discussed improving the public finance management system and developing the country's institutional capabilities. The practical knowledge gained during the visit is planned to be taken into account in further improving Uzbekistan's approaches to the development of special economic zones.