Economics - Politics

President urges effective use of Hungary’s preferential loans

Tuesday, September 26, 2017
President Tran Dai Quang has called on Vietnam and Hungary to continue their close coordination to soon select projects to use Hungary’s preferential loans effectively and pragmatically, for the sake of the two countries’ people.

President Tran Dai Quang and Hungarian Prime Minister Viktor Orban (Source: VNA)

At a meeting with visiting Hungarian Prime Minister Viktor Orban in Hanoi on September 25, the President applauded Hungary’s continuous naming of Vietnam a priority partner in its development cooperation policy.

Hungry is Vietnam’s largest official development assistance (ODA) supplier in East-Central Europe, with preferential loans totaling 535 million EUR (roughly 636 million USD). Of the number, 440 million EUR is within a framework agreement on credit cooperation signed by the two countries in January 2017, he said.

Noting with joy the friendship between Vietnam and Hungary over the past 67 years, President Quang stressed that Vietnam always places importance to developing the relations with traditional friends in East-Central Europe, including Hungary.

He described PM Viktor Orban’s visit as a milestone in the relationship, helping to open up new cooperation prospects for the two countries.

With a range of cooperation agreements inked following the talks between PM Viktor Orban and his Vietnamese counterpart Nguyen Xuan Phuc, the Hungarian leader’s visit is expected to create a momentum to push up the traditional friendship and multi-faceted cooperation between the two countries, especially in trade and investment, making the link on par with the fruitful political ties, President Quang said.

He said the two sides should step up the exchange of all-level delegations as well as collaboration between ministries, agencies, localities and businesses in order to realise the above-mentioned agreements.

Multilaterally, the President hailed the two countries’ close coordination at international forums, particularly within the framework of the UN, the Asia-Europe Meeting and the Mekong-Danube cooperation mechanism.

He used the occasion to thank the Hungarian side for supporting Vietnam’s candidacy for a seat in the UN Economic and Social Council during 2016-2018 as well as its commitments to backing Vietnam’s bid to run for a non-permanent seat in the UN Security Council for 2020-2021.

He suggested Hungary promote the comprehensive relations between Vietnam and the EU, including the early official signing and ratification of the EU-Vietnam Free Trade Agreement.

President Quang also thanked Hungary for creating favourable conditions for more than 4,000 Vietnamese in the country and called on the Hungarian side to continue their support for them.

For his part, PM Viktor Orban congratulated Vietnam on its socio-economic achievements over the past decades.

With the participation of many Hungarian ministers and more than 40 businesses, the visit is considered a new start for the bilateral relationship, the PM said.

Hungary wishes to take part in a number of Vietnam’s development programmes and opens its door for Vietnam to participate in Hungary’s development in the next 20 years, he said.

The PM told his host that Hungary has carried out several cooperation projects in Vietnam in the fields of agriculture and health care.

Hungary has also granted 200 scholarships to Vietnamese students each year and there are about 3,000 Vietnamese graduating from Hungarian universities, he said, calling for President Quang’s support for the establishment of the Hungary Culture Centre in Hanoi.

He stressed that Hungary welcomes Vietnamese businesses to invest in the country and stands ready to bridge Vietnam with other countries in East-Central Europe.
Hungary will be the first EU nation to approve the EU-Vietnam Free Trade Agreement, he pledged.

Vietnam and Hungary issued a joint statement on PM Vikor Orban’s visit to Vietnam from September 24-26.
 
 
 
Source: VNA
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