Investment cooperation with Hungary is being strengthened

On July 26-27 this year, as part of the visit of the delegation of Uzbekistan to Hungary, the Minister of Investment, Industry and Trade Laziz Kudratov took part in the 8th meeting of the Uzbek-Hungarian Intergovernmental Commission for Economic Cooperation (IGC) and a joint business forum organized within its framework, and also held a number of bilateral meetings and negotiations. This was reported by the press service of the MIIT.

At the meeting of the IGC, the current dynamics of bilateral cooperation was analyzed in detail, in the context of industries. It was noted that the economies of the two countries complement each other, and in this context, further practical steps were developed to unlock the existing potential and opportunities for interaction in priority sectors.

Within the framework of the meeting, a business forum was held with the participation of over 200 representatives of business and official circles of the two countries. The Uzbek side presented unique conditions for comfortable activities of investors and confirmed its readiness to provide comprehensive support for new joint projects and initiatives.

During the talks with Hungarian Foreign Minister Petr Szijjarto, the Hungarian side highly appreciated the dynamics of the development of multifaceted relations with Uzbekistan, which became possible thanks to the firm political will of the leaders of the two states to strengthen friendship and fruitful bilateral cooperation.

The current state and prospects for building up cooperation in the trade, economic, investment and industrial spheres were discussed. The parties welcomed the launch of the investment fund.

In order to intensify relations between the countries, the parties agreed on the opening of direct flights between the cities of Tashkent and Budapest, as well as the simplification of visa procedures, which is intended to have a positive impact on the growth of mutual tourist flow.

In addition, on the sidelines of the visit, meetings were held with the heads of leading Hungarian companies: KESH, Gedeon Richter, Meditop, Wizz Air, Bonafarm, Mall Group and Semmelweis University, during which a number of specific agreements were reached.

As was noted at the end of the visit, the mood of the Hungarian and Uzbek government and business circles to achieve concrete practical results creates a solid foundation for the successful implementation of the agreements reached and further expansion of the mutually beneficial Uzbek-Hungarian partnership.