Hungarian firms to build Laos food industry system, says foreign minister in Laos

Vientian, June 6 (MTI) – Sixty Hungarian SMEs are “building Laos’s food industry and food safety system” under the arrangements of a 10 billion forint investment scheme, Foreign Minister Péter Szijjártó said on Tuesday.

Hungary’s Eximbank has provided 30 million dollars tied aid for the programme, Szijjártó told MTI by phone from Laos.

The investment framework offers an opportunity for Hungarian agricultural and food companies to be present in the Laos market for several years, in a country where agriculture accounts for 26.5 percent of GDP. Laos, being a member in the ASEAN, opens a market of 600 million people for the companies involved, he said, adding that it is one of the fastest growing economies in Asia, with 7 percent average annual GDP increase in the past ten years, he said.

Szijjártó said the first facility built from the investment programme, a meat processing plant in Nam Xuang, will be opened on Tuesday.

An agreement has been signed for water management which will involve the use of Hungarian technology for Laos’ national drinking water system.

He added that he had agreed with his partners in Laos that Hungarian companies will contribute software and IT solutions to Laos city management.

Also, Laos will support Hungary’s candidacy to be a member in the UN Human Rights Council in 2017-2019, he said.

Photo: MTI

Source: http://mtva.hu/hu/hungary-matters