According to the statement of the Ministry of Foreign Affairs and Trade, the head of the ministry held a joint press conference with the Minister of Foreign Trade of the United Arab Emirates, Tani bin Ahmed al-Zejudi, where he signed an agreement on economic cooperation between the two countries.
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.
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He 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. That way
signed the agreement, 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.
“It is not just a new, modern city quarter being built, but a major urban development investment with complex touristic, economic, business and sports functions,” he underlined.
“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.
Cover image source: MTI Photo/Zoltán Máthé
