20.05.2025

The official visit of the President of the Republic of Uzbekistan Shavkat Mirziyoyev to Budapest began with a meeting with the heads of Hungary’s largest companies and banks.

The Hungarian side was represented by top executives and founders of OTP Bank, BDPST Group, 4iG, Indotek, MVM, Duna Group, MOL Group, H2O Consortium, Inpark, Wizz Air, and many others.

In his speech, the President of Uzbekistan emphasized the symbolic significance of starting his official visit with a meeting with representatives of Hungarian business.

Satisfaction with the dynamic growth of direct Hungarian investments in Uzbekistan’s economy was expressed. For instance, OTP Bank previously acquired one of Uzbekistan’s major banks and has established a strong position in the country’s financial market.

New OTP plans were supported, including the creation of a joint venture to develop auto lending, the launch of a business financing program, and the construction of a large-scale poultry cluster.

To expand industrial cooperation and encourage the transfer of advanced technologies, a special industrial zone for European companies is being established in the Tashkent region. The management of this zone will be entrusted to the Hungarian operator Inpark.

To further strengthen economic partnership, the President of Uzbekistan outlined several priority areas, including co-financing of joint projects and support for the export of finished products to promising third-country markets.

The importance of enhancing transport connectivity was highlighted, particularly through increasing cargo transportation and developing direct air links between the two countries.

The President of Uzbekistan highly appreciated the interest shown by Hungarian companies in implementing joint projects. In turn, business representatives presented their proposals and plans for expanding the partnership.

During the meeting, agreements were reached on the implementation of new projects in areas such as the modernization of transport and road infrastructure, construction of logistics centers and utility networks, production of building materials, finished textiles, chemical products, and pharmaceuticals.

In conclusion, the President proposed holding meetings in this format on a regular basis.

- “We will create all the necessary conditions for the development of strong ties between the business communities of our countries”, - assured the President of Uzbekistan.

At the end of the event, in the presence of the President, a ceremony was held for the exchange of agreements on the implementation of priority investment projects.