Hungarian companies can modernize strategic sectors in Uzbekistan

95 agreements were signed between the Uzbek and Hungarian governments in Tashkent on Tuesday.

The collaboration gives Hungarian companies the opportunity to transform and modernize strategic sectors here in Uzbekistan, Foreign Minister Péter Szijjártó announced. 

As the largest Hungarian bank, OTP is the first foreign bank allowed to participate in the privatization of the Uzbek banking system. Negotiations on this are in an advanced state, the minister said.

Hungary is also expected to play a significant role in increasing Uzbek nuclear energy production.

As the seventh-largest uranium producer in the world, Uzbekistan is building another nuclear power plant that will be completed by the end of the decade. The cooling system of the new plant is being designed based on a Hungarian patent, Péter Szijjártó explained.  

Eximbank will provide a credit line of USD 100 million for the development of Hungarian-Uzbek relations, while the University of Debrecen has agreed with leadership in Uzbekistan to set up a campus over there.

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