Following a two-day visit to Kuwait City, Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó promised that Hungarian businesses can look forward to “exceptional opportunities” in Kuwait, as reported by official government website kormany.hu.
During a diplomatic meeting in which Szijjártó met with the Kuwaiti ruler, prime minister and other notable figures, the minister talked up the development of the economic relationship between Kuwait and Hungary. The Middle Eastern country, which possesses the world’s sixth largest oil reserves, has implemented a five-year development plan to maintain capital investment, which began in 2015 and promises to be favorable to Hungarian businesses, Szijjártó said.
With what Szijjártó described as Hungary and Kuwait’s amiable history and shared support of common principles, the two countries will be developing a strengthening economic relationship in a number of ways. According to Szijjártó, the four pillars of Hungarian involvement in Kuwait will include IT security, water management, healthcare and the oil industry.
“There will be several major projects going on in the country within the framework of the ‘New Kuwait’ economic development plan, for which reason Eximbank has opened a EUR 510 million credit line to support efforts by Hungarian enterprises to enter the market,” Szijjártó announced. He added that “Kuwait has an extremely positive view of Hungary and supports the expansion of Hungarian enterprises on the Kuwaiti market.”