Hungary has decided to invest heavily in building a number of production facilities in a special economic zone near Tashkent.
The announcement was by Péter Szijjártó, the minister of foreign affairs and trade, after a meeting of the Hungarian-Uzbek Mixed Inter-governmental Economic Cooperation Committee in Budapest on Thursday, 27 July 2023.
According to the Daily News Hungary, the special economic zone will allow cooperation between Hungary and Uzbekistan to further strengthen, Szijjártó told a joint press conference held with Laziz Kudratov, Uzbekistan’s minister of investment, industry and trade, after signing an agreement on the project.
The Hungarian companies were preparing to enter the Uzbek market with projects in the pharmaceutical, agricultural and food industries, according to a foreign ministry statement.
Szijjártó said that a capital fund was being set up to support the investments. He said that it can also be a guarantee for them that OTP Bank, Hungary’s biggest commercial lender, has become “a flagship” investor in Uzbekistan’s bank sector with a 73 percent stake acquired in one of that country’s largest banks.
To facilitate direct travel, the Qanot Sharq of Uzbekistan and WizzAir of Hungary will launch flights between Budapest and Tashkent. Both are budget airlines. /// nCa, 30 July 2023 [image credit UzDaily]
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