Uzbekistan, Hungary promote the privatization process

Deputy Prime Minister – Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov met with the Chairman and Executive Officer of Hungarian OTP Bank Sándor Csányi, reports “Dunyo” IA correspondent.

According to the MIFT, the parties discussed issues related to the bank’s investment activities in Uzbekistan, taking into account the implementation of the previously signed agreement on the privatization of Ipoteka Bank. The implementation of this transaction will serve to attract foreign direct investment in the banking sector of the country and will become an additional impetus for the development and transformation of this sphere.

During the dialogue, the practical aspects and terms of the agreement were considered in detail, the issues on the agenda were studied, mutually acceptable solutions were worked out that meet the interests of both sides. An agreement was reached on further actions to promote the process of privatization of Ipoteka Bank by a Hungarian investor. A program for further development of the bank based on international best practices and banking standards will also be developed.

Mr. Sándor Csányi expressed interest in participating in the development of sports in Uzbekistan, including by investing in the creation of specialized sports academies.

Following the meeting, further steps were agreed to promote cooperation in the areas considered.

/“Dunyo” IA/.