Head of KAZAKH INVEST NC JSC visited Hungary

Head of KAZAKH INVEST NC JSC visited Hungary

During his working visit to Hungary, Chairman of the Board of KAZAKH INVEST JSC Saparbek Tuyakbayev met with the Ministry of Foreign and External Economic Affairs of Hungary, the Hungarian Investment Promotion Agency HIPA, Export-Import Bank and the Hungarian business community.

During the meeting with the Levente Magyar, State Secretary of the Ministry of Foreign and External Economic Affairs, the parties identified food industry, machinery engineering and information technologies as potential areas for cooperation. The parties noted their willingness to cooperate in delivering joint projects and agreed to hold an investment event with the participation of Kazakhstan’s business.

As part of the visit, the Chief of KAZAKH INVEST JSC met with the Chairman of the Hungarian Export-Import Bank. In order to develop Kazakhstan-Hungarian economic relations and promote joint investment projects, the Government of Hungary allocated 450 million Euros. The parties agreed to identify a pool of projects to be presented to the Hungarian business in March 2019.

Following the meeting with ICell, it was agreed to deliver two projects: a system for controlling financial transactions and toll road systems. In the future, these projects will make it possible to boost tax revenues by reducing the shadow economy of the Republic of Kazakhstan and to introduce a system for collecting tolls on national highways. It should be noted that both decisions comply with the principles of the “Digital Kazakhstan” State Program.


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