ANGOP - Angola Press News AgencyANGOP - Angola Press News Agency

Go to homepage
Luanda

Max:

Min:

Home » News » Politics

Wed, 14 Feb 2018 18:59 - Updated Wed, 14 Feb 2018 18:59

Hungary invests USD 172 million in Angola

Luanda - At least 172 million dollars will be invested in the most varied sectors, in the near future, by companies from Hungary operating in Angolan territory.

Send by email

To share this news by email, fill out the information below and click Send

Correct

To report errors in the texts of articles published, fill out the information below and click Send

1 / 1

Ministro dos Negócios Estrangeiros e do Comércio da Hungria, Péter Szijjárto

Photo: Pedro Parente

Vice-president of Republic, Bornito de Sousa, welcomes Hungarian Foreign and Trade minister

Photo: Pedro Parente

The announcement of the investment was made this Wednesday in Luanda by the Minister of Foreign Affairs and Trade of Hungary, Péter Szjjárto, on the sideline of an audience granted to him, by the Vice-President of the Republic, Bornito de Sousa, within the framework of his 24-hour work visit to Angola.

According to the official, the money was made available by the Hungarian Exibank, through a credit line, to support investments in Angola.

Péter Szjjárto said that trade between Angola and Hungary increased 16 times without disclosing the value of the respective exchanges.

He pointed out that economic cooperation prevails in the agriculture and energy sectors.

The minister also announced that the two countries will cooperate in the defense and security sector, where Angolan military may be trained at the military academy of Budapest (Hungary), in specialties to be defined by Angola.

"Hungary is making a lot of effort to protect the border," he said.
Péter Szjjárto said that his country will continue to cooperate in the field of education, with a 50% increase in the number of scholarships for Angolans.

Each year, Hungary awards 20 scholarships for higher education of Angolan citizens.

Agreements

However, on Wednesday, two legal instruments were signed between Angola and Hungary, in the fields of agriculture and higher education, in the latter involving the Higher Institute of International Relations "Venâncio da Silva de Moura" and the Institute of International Relations of the Ministry of Foreign Affairs of Hungary.

During his stay in Angola, the Minister of Foreign Affairs and Trade of Hungary will meet the Speaker of the National Assembly, Fernando da Piedade Dias dos Santos, with the Ministers of Energy and Water, Higher Education, Science and Technology and Innovation, among other entities.

Relations between the Republics of Angola and Hungary were formally established in April 1977 with the signing of the Agreement on Economic, Technical and Scientific Cooperation, which provided for a number of protocols and memoranda in the areas of Trade, Health, Agriculture and Culture, from 1981.

To recall that it was with the help of Hungarian economists that the Angolan government started in 1985 the economic reforms to evolve into the market economy after 10 years of planned economy.

The implementation of the program of Economic and Financial Sanitation, commonly known as SEF, had the contribution of renowned experts from Hungary, a country that now belongs to the European Union.

Tags Cooperação  

Read also
  • 01/11/2018 11:28:31

    Angola participates in military exercise in Gulf of Guinea

    Luanda - A multinational military exercise called "Grand African Nemo 2018" is scheduled for November 3 to 10, in an action that takes place within the framework of the operational partnership in the Gulf of Guinea, to which Angola takes part.

  • 29/10/2018 17:48:08

    Brazil privileges commercial relationship with Angola

    Luanda - The Federative Republic of Brazil will continue to privilege the economic and commercial relationship with Angola, a country with which it has strong historical and cultural ties.

  • 26/10/2018 10:58:47

    Angola and China strengthen judicial cooperation

    Luanda - The Angolan and Chinese governments intend to strengthen cooperation in the judicial field, with emphasis on training of staff and legislative exchange.

  • 24/10/2018 18:00:07

    Angola attends Italy/Africa conference

    Rome - Angolan Foreign Affairs minister Manuel Augusto has been since Tuesday in Rome, Italy, to attend the Italy-Africa conference on "peace and security, economic growth and human development".