Kazakhstan, Hungary to establish $100 million investment fund

Currently, Kazakhstan is in talks with a number of major Hungarian companies, including the entry of Hungary’s largest bank OTP Bank into the market of Kazakhstan, said Saparbekuly.

The Kazakh ambassador added that a delegation of Hungary’s telecommunication and space IT company arrived in Kazakhstan as part of an official visit by the Hungarian President. “During the visit, talks have begun on joint projects with Kazakhstan Garysh Sapary, Kazakhtelecom, as well as defense cooperation”.

In addition, MOL, an oil and gas company, is holding talks on major investments in the gas sector of Kazakhstan, said Saparbekuly.

According to him, a delegation of Hungary’s MVM company, operating in the nuclear power sector, is expected to pay a visit to Kazakhstan soon, focusing on a number of joint projects in nuclear power, infrastructure and energy.

Another major project is creation of a transport and logistics hub in Hungary. The relevant agreement was reached last year. In this regard, KTZ Express is in talks with the Hungarian side, which also include China. A joint memorandum is set to be signed shortly, noted the Kazakh ambassador.

The speaker also announced Kazakhstan and Hungary completed talks on an investment fund worth 100 million US dollars. “It is planned to sign an agreement to establish the fund at the Astana International Financial center soon.”

As reported previously, Head of State Kassym-Jomart Tokayev has held negotiations with his Hungarian counterpart Tamás Sulyok, who arrived in Astana for an official visit.