A meeting with Hungarian businessmen takes place

UZBEKISTAN, October 3 – The President of the Republic of Uzbekistan, Shavkat Mirziyoyev, met with the leaders of the main companies and banks of Hungary in Budapest.

The event brought together Hungarian Minister of Economic Development Márton Nagy, President of the Chamber of Commerce and Industry László Parragh, CEO of OTP Bank Sándor Csányi, as well as the heads of around 20 major companies and corporations such as Gedeon Richter, Bonafarm, Wizz Air, Raba Holding, Meditop, Master Good, Kite and others.

It should be noted that open meetings with business circles have become an indispensable attribute of the foreign visits of the leader of Uzbekistan. They help to establish direct contacts and promote the success of Uzbekistan on the trade and economic path, attracting foreign investors for the implementation of mutually beneficial projects.

Hungary is a country with one of the most dynamic economies in Europe, with enormous potential in agriculture, industry, trade, tourism, finance and information technology.

Trade and economic cooperation between the two countries has developed dynamically in recent years. Trade turnover has been multiplied by 3 over the last 5 years. The number of joint ventures and the volume of investments are increasing.

Promising areas of mutually beneficial cooperation in pharmaceuticals, agriculture, food industry, electronics and electrical engineering, chemicals, textiles, leather and automobiles have were discussed at the meeting.

It was noted that Uzbekistan is implementing large-scale reforms aimed at the cardinal improvement of all areas and sectors of the economy, as well as improving the well-being of the population.

The leader of Uzbekistan listed the main achievements of Uzbekistan’s economic policy in recent years, including the liberalization of the foreign exchange market and the repatriation of profits, the program of privatization of state assets and banks, industrial and infrastructure facilities, tax reform and others.

“The development strategy of the new Uzbekistan provides for the continuation of work aimed at creating the most favorable conditions for entrepreneurs, expanding the presence of foreign companies in our country. The main thing is that foreign companies believed in our transformations,” Shavkat Mirziyoyev said.

The creation of a common fund for the financing of priority projects, which will be launched soon, was announced during the meeting.

It was proposed to allocate a separate industrial zone exclusively for Hungarian enterprises, providing it with all the necessary production infrastructure.

According to the President of Uzbekistan, future joint projects, mastering scientific developments, design innovations and technologies of Hungarian partners in their implementation will have a great synergistic effect.

President Shavkat Mirziyoyev addressed every member of the Hungarian business delegation. A detailed exchange of views took place on the implementation plans for specific joint projects. The will to provide Hungarian companies with full support in the implementation of their investment plans was expressed.

“I invite every entrepreneur to visit our country and personally make sure that today Uzbekistan is the best place to invest!”, noted the president.

In turn, representatives of the Hungarian business community highly appreciated the results of the systemic economic reforms implemented in Uzbekistan and expressed their desire to enter the market of Uzbekistan and implement joint promising projects.

Another clear confirmation of the parties’ great mutual interest in cooperation was the Uzbekistan-Hungary Business Forum held the day before, within the framework of which investment, trade and financial agreements worth more than a billion dollars has been concluded.

Following the meeting, an agreement was reached on the adoption of a comprehensive roadmap for the practical implementation of all initiated projects, specifying deadlines and responsible executors.

Heads of ministries and agencies of Uzbekistan have been instructed to provide all possible assistance to Hungarian partners to carry out business activities in Uzbekistan.

Source: OuzA


Laura T. Thrasher