President Of Uzbekistan Marks Hungary Visit With Signing Of Strategic Investment Deals

2025-05-20 07:06:29

(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, May 20. President of Uzbekistan Shavkat Mirziyoyev started his official visit to Budapest with the signing of several key investment agreements, Trend reports, citing the Uzbek President's Office.

During the event, agreements were reached on a range of new projects across key sectors, including the modernization of transport and road infrastructure, the construction of logistics centers and utility networks, as well as the production of construction materials, textiles, chemical products, and pharmaceuticals.

The Hungarian side was represented by top executives from leading companies, including OTP Bank, BDPST Group, 4iG, Indotek, MVM, Duna Group, MOL Group, H2O Consortium, Inpark, Wizz Air, among others.

President Mirziyoyev expressed satisfaction with the growing volume of Hungarian direct investments in Uzbekistan's economy. Notably, OTP Bank recently acquired one of Uzbekistan's major banks, securing a strong foothold in the country's financial sector.

The President also welcomed OTP Bank's new initiatives, which include the creation of a joint venture to develop auto lending services, the launch of a business financing program, and the construction of a large-scale poultry cluster.

Meanwhile, a special industrial zone for European companies will be created in the Tashkent region to develop industrial cooperation and promote the transfer of advanced technologies, which will be managed by the Hungarian company Inpark.

President Mirziyoyev outlined several priority areas for expanding bilateral economic cooperation, including co-financing joint projects and supporting exports of finished goods to promising third-country markets.

He further stressed the importance of improving transport connectivity, particularly by boosting cargo transportation and developing direct air links between Uzbekistan and Hungary.

In conclusion, the President proposed institutionalizing such business forums as a regular platform for advancing strategic economic partnerships.

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