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Door "wide open" to forging ties with Arab businesses, says PM

Hungary's door stands "wide open" to Arab businesses, Prime Minister Viktor Orbán said at the First Arab-Hungarian Economic Forum in Budapest on Monday.

There are no political, legal or economic obstacles to fostering ties between Arab and Hungarian businesses, Mr Orban told the forum at which almost 200 business representatives, diplomats and politicians from 16 countries participated.
Hungary offers good growth prospects, highly developed infrastructure, professional preparedness and a suitable workforce, he said. Arab business partners who see economic changes in Europe and establish business ties in Hungary can expect to be rewarded in 5-10 years, he added.
Péter Szíjjártó, state secretary in charge of foreign affairs at the PM's office, said Arab investors at the conference were presented with 87 investment opportunities worth a combined €1.94 billion. The priority projects include 35 in tourism, 17 in renewable energy, 14 in infocommunications, 11 in life sciences and biotechnology and ten in the farm and food industries.