An agreement has been reached between Hungary and the United Arab Emirates on economic cooperation, within the framework of which a new city district can be built around the Rákosrendező railway station with a huge investment of five billion euros, he announced Péter Szijjártó Minister of Foreign Affairs and Trade on Wednesday in Budapest.
According to the announcement of the Ministry of Foreign Affairs and Trade, the Minister of Foreign Trade of the United Arab Emirates, With Tani bin Ahmed al-Zejudi at the joint press conference following the signing of the agreement on economic cooperation between the two countries, he first of all welcomed the continuous development of bilateral relations. He pointed out that the value of trade between Hungary and the United Arab Emirates has already exceeded one billion dollars a year, and that domestic companies are also increasingly active in the Middle Eastern country in the fields of the food industry, IT and digital industries.
He called it an essential basis that the two countries approach economic issues from a non-ideological point of view, as it is based on this that a new impetus can be given to the cooperation with the agreement just signed.
He then added that it is always important in the economic cooperation between two countries to have a flagship project, which in this case might be the construction of a new Budapest district in a particularly ruined area. This is how the agreement was signed, which provides a framework for the complex development plan of the giant real estate developer Eagle Hills in the vicinity of the Rákosrendező railway station.
This is a five billion euro investment. As a result, a new part of the city, a new city quarter, will be created in the vicinity of the Rákosrendező railway station and in the abandoned, dilapidated industrial areas that lie around it
he declared.
This huge urban development project gives new impetus not only to the cooperation between the two countries, but also to the development of Budapest, since not only a new, modern city district is being built, but also a major urban development investment with complex touristic, economic, business and sports functions.
he underlined.
He stated: the large-scale investment gives a new quality to the life of Budapest and the country as well, the capital will be placed on the global map that includes cities that have implemented similar large-scale developments.
And I am also confident that this huge investment can pave the way for other emirate companies operating in modern industries to see Hungary as an attractive investment destination
he said. Péter Szijjártó emphasized that these are two countries that make their economic decisions based on reality and common sense.
They are two countries that do not accept external pressure in terms of their political or economic decision-making, nor do they exert pressure on others. Two countries that are sensitive to their sovereignty, stand up for their sovereignty, and are only willing to observe the affairs of the world through their own perspective
he listed.
