CAIRO – 20 June 2022: Hungarian Minister for Innovation and Technology László Palkovics called for boosting investments between Egypt and Hungary to pave the way for starting joint projects and pumping more investments into both countries.
In a meeting in Cairo with Egypt’s Minister for Military Production Mohamed Ahmed Morsi, Palkovics said he seeks to support the Hungarian companies to cooperate with the Egyptian military production given their vital role in deepening and localizing industry.
The meeting gathered a Hungarian delegation led by the director general of the national defense industry company and Ambassador to Egypt András Kovács.
Officials reviewed technological, technical and human potentials provided at the companies, sectors and units of the ministry in various military and civilian industrialization domains.
Morsi posted the Hungarian delegation on the most important national development projects to which the ministry contributes to their implementation.
He said cooperation between the ministry and the Hungarian companies would achieve an important shift in industrial cooperation between the two sides as part of the state strategy to support the local industry.
For his part, the Hungarian ambassador said future cooperation between Egypt and Hungary lies in economic rapprochement and investments.
The Hungarian envoy pointed out to visits to Hungary in the past months by head of General Authority for Investment and Free Zones (GAFI) and head of the Suez Canal Economic Zone (SCZone) to discuss Hungarian investments in Egypt.
Additional reporting by MENA
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