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HUNGARIAN FIRMS INVESTING IN ANGOLA

 

Several Hungarian companies will have the opportunity to undertake investment projects in Angola, the minister of foreign affairs and trade said.

Business cooperation between Hungary and Angola will mainly focus on agriculture, security technology and energy, Péter Szijjártó told MTI by phone from Luanda. “Africa is the continent of the future,” he said. “The Hungarian government has launched its strategy of ‘opening to the south’ in order to help as many Hungarian firms as possible to successfully access the African economic area.” Hungary’s Eximbank has set up a fund of 40 million euros to help Hungarian companies set up production, and research and development capabilities in Angola, while the bank will also provide loans amounting to 135 million euros to promote bilateral trade, Szijjártó said. Africa’s Portuguese-speaking countries, he said, were a “natural destination” for Hungary’s investment strategy. “Angola is the most important [among these] since mutual sympathy between the two countries is a legacy of Angolans who, in previous times, graduated from Hungarian universities,” the minister said. Szijjártó also announced that Prime Minister Viktor Orbán is scheduled to pay an official visit to Angola in late March.