Hungarian-Vietnamese bilateral relations are expanding

Tuesday, November 19, 2013

The expansion of Hungarian-Vietnamese bilateral relations play an important role in the implementation of the government's Eastern Partnership policy stressed Secretary of State for Foreign Affairs and Foreign Economic Relations Péter Szijjártó at a press-conference after the Hungarian-Vietnamese Joint Economic Committee meeting on Tuesday in Budapest.

The tied aid credit program plays a major role in the economic cooperation between the two countries. In this context, Hungarian companies working on two major investment projects in Vietnam – a water management and development project and a provincial population registration system development project - amounted to EUR 20.1 million said Szijjártó. He added that talks have already started over a 500 million euro investment project in Vietnam financed by Eximbank, which include developing five hospitals, four water supply facilities and a higher education related investment is also part of the project.

Vietnamese Deputy Minister of Industry and Trade Ho Thi Kim Thoa, the Co-Chair of the Hungarian-Vietnamese Joint Economic Committee stressed that former students studied in Hungary and the Vietnamese business community play a major role in the expansion of economic cooperation between the two countries.

At the event, Vo Van Mai, chairman of the Vietnamese-Hungarian Business Council has been awarded with the Hungarian Order of Merit medal for his role in developing economic and trade relations between the two countries.

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