The government is launching a 160 million dollar tied aid programme to support Hungarian companies working on development projects in Laos, Foreign Minister Péter Szijjártó said after talks with Laotian Deputy Prime Minister Sonexay Siphandone in Budapest on Monday.
At a joint press conference, Szijjártó said Hungarian companies will completely revamp Laotian capital Vientiane’s sewage system and participate in food safety development and setting up an electronic ID card system.
In a similar programme earlier, Hungarian companies invested 38.6 million dollars in food safety and agricultural development in the country, Szijjarto noted.
Currently, 100 Laotian students study in Hungary, he said.
Those investments will bolster Hungarian companies, and so strengthen Hungarian economy and foreign trade, Szijjártó added.
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Siphandone told the press conference Hungarian-Laotian relations have long-standing traditions and are based on mutual benefits and respect.
Both countries are committed to further developing cooperation, he said.
Hungarian President János Áder’s recent visit to the country was a “milestone” in Hungarian-Laotian friendship, he said.
The parties signed a food safety agreement ahead of the press conference.