ASTANA (TCA) — The Kazakh-Hungarian business forum with the participation of government officials and business circles of the two countries will be held in Astana on October 17, the official website of the Prime Minister of Kazakhstan reports.
The purpose of the forum is to intensify the trade and economic cooperation between business circles of Kazakhstan and Hungary, as well as to conduct a presentation for the Hungarian side of the state program of industrial and innovative development of Kazakhstan for the period 2015-2019, a package of incentives for investors, and the priority sectors of the Kazakh economy, and organize meetings in the B2B format.
The event is organized by the Ministry for Investment and Development of Kazakhstan and National Agency for Export and Investment KAZNEX INVEST.
The forum will be attended by representatives of Hungarian companies from sectors such as pharmaceuticals, medical equipment, agriculture, engineering, food processing, logistics, ICT, and other industries.
According to official statistics, for the period from 2005 to the first quarter of 2016, the volume of Hungarian direct investments in Kazakhstan’s economy amounted to 102.2 million dollars.
The trade turnover between Kazakhstan and Hungary for the period from 2008 to 2015 amounted to US $1.777 billion, with exports at 721.1 million dollars and imports at 1.056 billion dollars.
Earlier this year, Kazakhstan and Hungary set up the Kazakh-Hungarian Investment Fund of direct investments. The Fund was established by the National Managing Holding KazAgro and Eximbank of Hungary to finance agricultural projects in Kazakhstan.
The Kazakh Ministry of Agriculture then said that the initial capitalization of the Kazakh-Hungarian Fund totaled $40 million ($20 million from each side), and that the Fund planned to attract an additional $100 million from local and foreign investors.