The official visit of the President of the Republic of Uzbekistan, Shavkat Mirziyoyev, to Budapest began with a meeting with the heads of Hungary’s largest companies and banks.

Top executives and founders of OTP Bank, BDPST Group, 4iG, Indotek, MVM, Duna Group, MOL Group, H2O Consortium, Inpark, Wizz Air, and many others represented the Hungarian side.

In his remarks, the President of Uzbekistan emphasized the symbolic significance of beginning his official visit with a meeting with representatives of Hungarian business.

The dynamic growth of direct Hungarian investment in Uzbekistan’s economy was noted with satisfaction. For example, OTP Bank had previously acquired one of Uzbekistan’s major banks and has since established a stable position in the country’s financial market.

New initiatives by OTP Bank received support, including creating a joint venture for the development of auto lending, launching a business financing program, and constructing a large-scale poultry cluster.

To expand industrial cooperation and promote the transfer of advanced technologies, a special industrial zone for European companies is being established in Tashkent region. Management of this zone will be entrusted to the Hungarian operator Inpark.

To expand economic partnership, the President of Uzbekistan outlined several priority areas. These include co-financing joint projects and supporting the export of finished products to promising third-country markets.

Strengthening transport connectivity was emphasized by increasing freight transportation and developing direct air links between the two countries.

The President of Uzbekistan expressed appreciation for the strong interest shown by Hungarian companies in implementing joint projects. In turn, business representatives presented their proposals and plans for expanding the partnership.

At the meeting, agreements were reached on implementing new projects in areas such as the modernization of transport and road infrastructure, the construction of logistics centers and utility networks, and the production of construction materials, finished textiles, chemical products, and pharmaceuticals.

In conclusion, the Head of State proposed regularly holding meetings in this format.

“We will create all necessary conditions for the development of strong ties between the business communities of our countries”, assured the President of Uzbekistan.

Following the event, a ceremonial exchange of agreements on the implementation of priority investment projects was held in the presence of the Uzbekistan Leader.

UzA