€75 million for Hungarian business in Vietnam

Int’l Relations

The Hungarian government will open a €75 million credit line through the Export-Import Bank (Eximbank) of Hungary to help finance infrastructural development projects to be carried out by Hungarian businesses in Vietnam, the economy ministry announced yesterday.

Vietnamese Industry Trade Deputy Minister/Hungary-Vietnam economic joint committee co-chairman Ho Thi Kim Thoa discussed details of the participation of Hungarian companies in IT, water and health services projects in Vietnam with Hungarian economy ministry state secretary Kristof Szathmáry in Budapest yesterday.

Ho and Foreign Trade State Secretary Péter Szijjártó also discussed conditions to foster cooperative efforts in the field of health, informatics, education and agriculture earlier, ministry spokesperson Éva Varga stated.

Varga also said that the two welcomed a 26% year-on-year increase in bilateral trade through August as a joint success; according to official statistics, Hungarian exports to Vietnam rose 36% y.o.y. in January-August, and two-way trade produced a $6.3 million trade surplus for Hungary.

Szijjártó last met with Vietnamese ministers in late October. The annual meeting of the Hungarian-Vietnamese Joint Economic Committee will be held in Budapest this month.

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