Tajikistan, with substantial support from South Korea, started its first solar panel production facility in the Danghara Free Economic Zone on Saturday, according to the Tajik Embassy in Seoul.

The project spearheaded by the Korean company Global Solar Wafer, is set to unfold in four stages investing $2 billion and boosting local employment in Tajikistan, the embassy said. The facility is also expected to provide over 8,000 jobs, it added.

In a move to woo foreign investment in the country, the Tajik government has allocated 22 hectares in the Danghara Free Economic Zone for the project.

Construction of the first phase is slated to begin in July 2024, with completion targeted for March 2025 with the production of solar panel equipment with a capacity of 5,000 megawatts.

The establishment of this plant is seen as pivotal to Tajikistan's "green economy" strategy, as it is expected to bolster the country’s renewable energy infrastructure, striving to achieve up to 1,000 megawatts of green energy production by 2030.

During the facility’s presentation, Tajik President Emomali Rahmon praised the deepening economic ties between Tajikistan and South Korea, citing this venture as a stellar example of bilateral cooperation.

Tajikistan-Korea bilateral trade turnover reached $116.1 million in 2023.

Currently, over 13 Korean service and production companies are operating in Tajikistan, according to the embassy.