Development Minister in Beijing for business talks
The details of a rapid rail link between Liszt Ferenc International Airport Budapest and the city centre, the content and the method of financing of a list of projects that could be supported with some €1bn, and the framework for the construction of a logistics and cargo base were discussed at talks on the first day of an official visit to Beijing by National Development Minister Tamás Fellegi.
Fellegi said the main goal of the talks was to close matters on which decisions can be taken at a political level, after agreements are reached at the expert level.
He confirmed that China is continuing to buy Hungarian government securities. He declined to reveal any details about developments that could affect national carrier Malév.
Fellegi said he spoke with the chairman of the China Railway Construction Corporation (CRCC) about earlier agreed on projects. The chairman personally expressed his support for a high degree of participation by Hungarian suppliers in the projects, he added.
The rapid rail link between Liszt Ferenc International Airport and the city centre will be the first project, he said.
Fellegi continued talks with the management of the China Development Bank on a general cooperation framework as well as the method of financing €1bn of projects in Hungary.
The projects are expected to enter the funding framework after being individually approved, Fellegi said. The funding framework could grow if the first projects show a well-functioning bilateral cooperation, he added.
The full list of projects is not yet public.
Fellegi will continue talks in Beijing on Friday.
Chinese Prime Minister Wen Jiabao and Hungarian Prime Minister Viktor Orbán announced the €1bn credit line to advance mutual investments with Hungarian partners during an official visit by the Chinese premier to Budapest in June.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.