Hungary unveils partnerships with Laos

Int’l Relations

A food safety system worth HUF 10 billion will be established in Laos by sixty Hungarian small- and medium-sized enterprises, Hungarian Minister of Foreign Affairs and Trade, Péter Szijjártó, said to Hungarian News Agency MTI today during his ongoing visit to Laos.

A meat processing plant for a slaughterhouse constructed by Hungarian companies is set to be inaugurated later today, according to Szijjártó. It will be the first construction completed in the project. 

As part of the same venture, the Hungarian Magyar Eximbank announced it would grant an interest-free loan of $30 million to the government of Laos, spanning 18 years with an eight-year grace period, MTI reported.

In the same visit, other deals were reached, including a study agreement which will bring 50 Laotian university students to Hungarian agricultural programs annually. Additionally, an agreement will see Hungarian businesses assist in water management, and an IT agreement will allow for Hungarian software to be utilized for urban management in Laos, according to MTI.

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