TASHKENT, Uzbekistan, July 10. The total investment portfolio between Uzbekistan and Hungary amounted to $1.5 billion, Trend reports.
The number was revealed during the phone talks between President of the Republic of Uzbekistan Shavkat Mirziyoyev and Prime Minister of Hungary Viktor Orban, as Administration of the President of Uzbekistan informed.
The parties noted that, currently, joint projects in the fields of agriculture, food industry, pharmaceuticals, and other priority sectors are being explored.
Hungarian PM also congratulated Shavkat Mirziyoyev on his re-election as President of Uzbekistan.
The sides pointed out the continuation of active and systematic political contacts, acceleration of joint projects in industrial cooperation, support for business and humanitarian initiatives, and other important issues on the bilateral agenda.
The dynamic development of Uzbek-Hungarian multifaceted cooperation was noted with satisfaction. Regular political consultations have been established, and in March this year, the Embassy of Uzbekistan was opened in Budapest.
Trade volumes between the two countries are growing. The leading European bank, OTP, has entered the banking and financial market.
During the phone conversation, special attention was given to the importance of formulating specific measures within the framework of the activities of the Joint Intergovernmental Commission to accelerate the implementation of cooperation projects and expand humanitarian and educational exchanges.
Meanwhile, the Uzbek-Hungarian Joint Investment Fund will start its work in the third quarter of 2023, as Minister for Economic Development of Hungary Márton Nagy said during the plenary session of the second Tashkent International Investment Forum (TIIF-2023).
"The Hungarian government has invested $200 million in the development of this Fund. Preliminary negotiations on the launch of its work are already underway," the minister said.