Uzbekistan and Hungary will establish a joint investment fund for 50 million euros

Uzbekistan agreed with Hungary on the creation of a joint special investment fund, Spot reports with reference to the press service of the MIIT

The head of the ministry, Laziz Kudratov, held online negotiations on this topic with the Hungarian Minister of Economic Development Marton Nagy. It is planned that the new fund will finance “specific projects” of companies from Hungary in Uzbekistan.

The size of the authorized capital of the fund will be 50 million euros. Its co-founder will be the National Investment Holding under the Hungarian Ministry of Economic Development.

The parties also discussed the implementation of joint projects, agreements on which had been reached earlier. Budapest confirmed the intentions of Bonafarm Csoport to create a poultry cluster near Tashkent, which the Ministry of Agriculture spoke about in November.

Hagyo and Polus companies with local partners are working on the creation of a licorice processing complex in Karakalpakstan. Projects for the production of innovative drugs from Meditop Pharmaceutical, auto components from Raba Automotive and Joyson Safety Systems were also noted.

The participants agreed to jointly provide support to enterprises in the implementation of projects. They also agreed to hold a meeting of the intergovernmental commission in Budapest on May 22-23.