Viet Nam News
HÀ NỘI — Hungarian Prime Minister Viktor Orbán and his spouse arrived in Hà Nội yesterday, beginning an official three-day visit to Việt Nam at the invitation of Prime Minister Nguyễn Xuân Phúc.
Representatives of the two countries will discuss measures to promote bilateral collaboration in trade, investment, education, healthcare, environment, security-defence, culture and tourism.
Since the establishment of diplomatic ties on February 3, 1950, Hungary has given Việt Nam valuable support in its struggle for independence and national construction.
In recent years, the two countries have deepened political ties based on mutual trust and understanding, laying a firm foundation for cooperation in a variety of fields. Two-way trade reached US$266 million in 2016, up 36 per cent compared to the previous year. In the first half of this year trade hit $145 million, a year-on-year increase of over 60 per cent.
Việt Nam mainly exports garments, footwear, computers, electronic products, transport vehicles and spare parts to Hungary, while importing medicine, machines, chemicals and animal feed from the European country.
As of the end of 2016, Hungary had 15 valid foreign direct investment (FDI) projects in Việt Nam with total registered capital of $50.66 million, ranking 55th among 105 countries and territories investing in Việt Nam.
Việt Nam and Hungary have signed a number of agreements, protocols and memoranda of understanding on boosting cooperation in science-technology and environmental protection, avoiding double taxation, encouraging investment and agricultural collaboration.
Hungary is home to more than 4,000 Vietnamese. — VNS