05/April/2023   Economic Diplomacy

Uzbekistan – Hungary Intergovernmental Commission Meeting to be held in May

TASHKENT, April 5. /“Dunyo” IA/. The decision on this was agreed upon during virtual talks between the Minister of Investments, Industry and Trade Laziz Kudratov and the Minister of Economic Development of Hungary Márton Nagy, reports “Dunyo” IA correspondent.

The parties agreed on the issue of creating a Special Investment Fund with an authorized capital of 50 million euros, in which the National Investment Holding under the Ministry of Economic Development will act as the founder from the Hungarian side. The Fund will finance specific projects of Hungarian companies in Uzbekistan.

The Hungarian side confirmed the intentions of Bonapharm to create a poultry cluster in Tashkent region. Work is underway to organize a complex for processing licorice in the Republic of Karakalpakstan by Hagyo and Polus companies together with Uzbek partners. Projects are being implemented for the production of innovative drugs with Meditop Pharmaceutical, the production of auto components with Raba Automotive Holding and Joyson Safety Systems.