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Economy & Policy

The Hungarian-Kyrgyz Development Fund has started its operations

The fund was established with initial capital of USD 16 million in Kyrgyzstan to enable more Hungarian companies to participate in the modernization of Kyrgyzstan.

Minister of Foreign Affairs and Trade Péter Szijjártó said that one of the main characteristics of the new global economic era is that the overwhelming majority of investments are being financed by Asian countries and companies.

This is why the strategy of opening up to the East has been so successful, as shown by the 28 percent increase in trade between Hungary and the East and the growing number of investments from Asia in revolutionary new industries.

The value of Hungarian-Kyrgyz trade has increased by 56 percent this year, and the market share of Richter Gedeon Plc. is also growing significantly in the country, he said.

The aim, he said, is to help as many Hungarian companies as possible to participate in modernization there, especially in agriculture, food, steel and digitalization. In the future, they are ready to increase funds to USD 50 million, Szijjártó said.

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