The must-have newsletter about Hungary

NATL ECONOMY MINISTER DISCUSSES FLAGSHIP PROJECTS WITH EGYPTIAN MINISTERS

 

Márton Nagy, the national economy minister, has met Egyptian transport minister Kamel al-Wazir and trade and industry minister Ahmed Samir to discuss Egyptian-Hungarian economic projects. After the meeting, Nagy said Hungarian-Egyptian ties were developing dynamically and said the government was working to “deepen and broaden” cooperation. Ties between the countries are bolstered by three flagship projects, Nagy said, according to a ministry statement. Under an agreement to manufacture 1,350 railway carriages, Hungary has already delivered 913 and is manufacturing the remaining 437, he said. The project is worth over one billion euros, he added. Telekom Egypt and Hungary’s 4iG are cooperating in constructing a submarine telecommunication cable between Albania and Egypt, he said. That project would create a new link between central and eastern Europe and Egypt, a hub of data transfer between Africa, Asia and Europe, providing new opportunities for investments and developments, he said.
Meanwhile, Egyptian company Elsewedy “has shown eager interest” in constructing a new gas plant in Hungary, he said. Nagy said they saw further room for development in agriculture, medical equipment and information communication.