Government provides updates on mini-Dubai development project agreements
Hungary and United Arab Emirates Sign Agreements for Budapest’s Rákosrendező Development Project
In a significant development, all the necessary agreements have been signed between Hungary and the United Arab Emirates for Budapest’s Rákosrendező development project, also known as mini-Dubai. The foreign minister, Péter Szijjártó, announced in London that the two countries are set to extend their cooperation to new areas, marking a potential breakthrough in their bilateral ties.
The agreements will pave the way for the creation of a modern city area in the currently underdeveloped Rákosrendező region of Budapest. Szijjártó emphasized that the necessary steps have been finalized, opening up opportunities for collaboration in various sectors.
Speaking about the upcoming developments, Szijjártó highlighted the plans to sign a defense industry cooperation agreement in Abu Dhabi. He praised the UAE’s dedication to innovation, particularly in the defense industry, and noted progress in cooperation within the food industry.
Hungary’s success in the cheese export market was also mentioned, with Szijjártó noting that the country is becoming a major player in this sector. Furthermore, digital advancements and energy cooperation were highlighted as areas of strategic focus for the two countries. Hungarian companies are already making strides in the Gulf region, with initiatives such as a digital cluster and cashless payment services at cultural events.
Overall, the agreements signed between Hungary and the United Arab Emirates are expected to lead to further collaboration and mutual benefits in various sectors, bringing new opportunities for both countries.
