On January 30, a meeting was held at “UzAssets” JSC with representatives of the Embassy of Hungary in Uzbekistan, led by the Ambassador Extraordinary and Plenipotentiary of Hungary to Uzbekistan, Mr. József Rózsa.
During the meeting, the Hungarian Ambassador noted that, thanks to the efforts of the President of Uzbekistan Shavkat Mirziyoyev and the Prime Minister of Hungary Viktor Orbán, multifaceted cooperation between our countries is steadily developing.
A strategic project for European businesses has been the entry of Hungary’s OTP Bank into Uzbekistan’s banking and financial market. Uzbekistan became the first country in the Central Asian region to receive investment from the Hungarian bank.
For reference: In December 2022, the Hungarian OTP Bank and the Government of Uzbekistan signed an agreement on the privatization of “Ipoteka Bank.”OTP Group (BSE: OTP, LSE: OTPD) is a Hungarian banking group operating in various financial sectors, including banking, insurance, investment services, asset management, leasing, and pension fund financing.
During the meeting, “UzAssets” JSC provided information on the ongoing work related to the transformation of state-owned enterprises and the implementation of measures to increase their efficiency.
The parties discussed current and prospective projects, including the program for supporting the “green” economy, “green” financing, energy efficiency approaches, investments, and the importance of developing ESG principles for access to international capital markets.
Key issues related to Uzbekistan’s capital market were also discussed, as well as the vital role of corporate governance quality in joint-stock companies preparing for the IPO process.
At the conclusion of the meeting, the parties agreed to further develop cooperation in priority sectors and to intensify work on planned projects.
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