Innovation and technology (I&T) hubs from the Hong Kong Special Administrative Region and Uzbekistan on Friday signed memorandums of understanding to support international expansion of technology companies and enhancing innovation exchange.

The pacts were among the results yielded by a high-level business delegation of Hong Kong and Chinese mainland entrepreneurs, led by Chief Executive John Lee Ka-chiu, during its visit to Central Asia starting Sunday.

The last day of the delegation’s visit began with a trip to the IT Park Uzbekistan in Tashkent.

Hong Kong Cyberport Management Company Limited and Hong Kong-Shenzhen Innovation and Technology Park Limited both signed MoUs with the park to facilitate business connections among startups, investors, and partners.

Established in 2019, IT Park Uzbekistan has incubated 29 startups, and created dozens of projects in the field of information technology, as well as trainings, workshops, and meetings for digital education.

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Tursunboy Makhkamov, an entrepreneur from Uzbekistan, said Hong Kong is perfectly positioned to serve as a premier hub for attracting overseas finance and driving new investment in his country. At the same time, Uzbekistan’s rapidly growing economy and market present valuable opportunities for investors from Hong Kong, he added.

He said he believes that cooperation in the financial sector — including banking, insurance, fintech, and microcredit organizations — holds significant potential for both sides.

Before visiting Uzbekistan, the delegation toured Kazakhstan and met with government officials and entrepreneurs.

The delegation has reached a total of 96 MoUs and cooperation agreements with governments and enterprises in the two Central Asian countries, involving $1.65 billion in investments across business, education, and development projects.

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The delegation will return to Hong Kong on Saturday.

Roys Zhang contributed to the story.

Contact the writer at atlasshao@chinadailyhk.com