Hungarians to build solar energy park in this Gulf country

Tech-oriented Hungarian companies can benefit greatly from the opportunities offered by the Gulf countries, and the Hungarian government is fully supporting investments in the region, Foreign Minister Péter Szijjártó told a joint press conference with his Omani counterpart, Sayyid Badr Albusaidi, in Muscat.

Szijjártó told the press conference that international investments were key to the success of the Hungarian economy, the foreign ministry said. The strategic cooperation between Hungarian oil and gas company MOL and Oman’s oil major is a backbone of Hungarian-Omanian partnership, Szijjártó said. Other companies are eyeing cooperation in building up a sustainable energy sector in the country, he said.

The delegation headed by Szijjártó comprised the representatives of 24 Hungarian companies. One company has already secured an agreement on building a solar energy park worth 10 million euros, he said.

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Oman and Hungary also signed an investment protection agreement earlier on Wednesday, and Hungary’s Eximbank has opened a 56 million dollar credit line to support joint ventures, he said.

Szijjártó also called for closer cooperation between the Gulf states and the European Union.

Hungary supports scrapping visas for travellers to the EU, “as we see no risks, only advantages and potential profit, in doing so,”

he said.

Albusaidi praised cooperation between Hungary and the Sultanate, and said it was a “good foundation for expanding ties”. During the talks, they identified several areas of further cooperation such as air travel and “shared challenges”, he said.