HCM City (VNA) – Ho Chi Minh City stands ready to help Hungary gain broaderaccess to ASEAN and Asian-Pacific markets while facilitating Hungarian investors’long-term business in the city, according to a local leader.

Chairman of themunicipal People’s Committee Nguyen Thanh Phong made the remarks at thereception for Balogh Csaba, Hungarian State Secretary of the Ministry ofForeign Affairs and Trade on November 14.

Vietnam –Hungary relations have made strong progress in recent years, marked by theestablishment of a comprehensive partnership during the visit of GeneralSecretary of the Communist Party of Vietnam (CPV) Nguyen Phu Trong to Hungaryin September this year, Phong told Csaba.

The visitshowed Vietnam’s view of Hungary as an important partner and created a newimpetus for the expansion of the bilateral ties in all fields, particularlyeconomics, trade and investment, he said.

Though the twocountries are seeing growing ties, trade and economic relations between HCMCity and Hungary remain below the two sides’ potential and expectations, henoted.

HCM City wantsto foster friendship with Hungary, he said, urging the country to supporteconomics, trade and business affairs of enterprises from the city in Hungaryand in Central and Eastern Europe.

He affirmedthat HCM City will create the best conditions for firms of both sides to stepup cooperation and for the implementation of joint tourism projects between thetwo governments and at the same time, welcome enhanced people-to-peopleexchanges.

He  askedHungary to reinforce collaboration in high-tech industry and developing smartcities.

Csaba, for hispart, said Hungary sees Vietnam as its most important partner in Southeast Asiaand a gateway for Hungary to enter the region. The two nations must exertgreater efforts to realise the will of their leaders, he said.

He praised thecity’s dynamic growth, saying Hungary welcomes all local companies to investand do business in the European country.

He also spokehighly of trade between Vietnam and Hungary, which has expanded six times overthe last six year. The two countries have carried out joint projects in foodmanufacturing, water supply, healthcare and food safety and in addition tothese, Hungary hopes to bolster ties with Vietnam in tourism and informationtechnology.

Vietnam and Hungary established diplomatic ties on February3, 1950. Over the years, their economic and trade ties have increased sharply,with two-way trade exceeding 355 million USD for the first time in 2017. Thefigure reached 348 million USD for the first seven months of 2018, a 113.15percent increase year on year.

Vietnam’s main exports to Hungary include computers, electronicgoods and parts, transport vehicles and spare parts, garments and footwearwhile Hungary mostly sells pharmaceuticals and public transport vehicles toVietnam. 

As of April 2018, Hungary had 17 valid projectsin Vietnam with total registered capital of 63.56 million USD, ranking 57th outof 126 countries and territories investing in the country. 

Education is a traditional cooperation sphere and over theyears, Hungary has been the only country in Eastern Europe to constantly offermore scholarships for Vietnamese students. 

Hungary has made Vietnam a priority in itsprovision of official development assistance, with its total commitment forVietnam reaching 535 million EUR. –VNA