Kazakhstan, Hungary Launch $100 Million Joint Investment Fund at Astana Financial Center

Kazakh Ambassador to Hungary Abzal Saparbekuly has announced that Kazakhstan and Hungary agreed to establish a $100 million joint investment fund to be based at the Astana International Financial Center.

Saparbekuly made these remarks at the Akorda Presidential Palace, The Caspian Post informs via Kazakh media.

The ambassador highlighted ongoing discussions with major Hungarian companies, including plans for Hungary’s largest bank, OTP Bank, to enter the Kazakh market.

During the official visit of the Hungarian President, a delegation from Hungary’s telecommunications and space IT company visited Kazakhstan. “Discussions were held on joint projects involving Kazakhstan’s Garysh Sapary and Kazakhtelecom, along with cooperation in the defense sector,” Saparbekuly said.

MOL, a prominent Hungarian oil and gas company, is also negotiating significant investments in Kazakhstan’s gas sector.

In addition, a delegation from Hungary’s nuclear energy firm MVM is expected to visit Kazakhstan soon to explore collaboration opportunities in nuclear power, infrastructure, and energy projects.

Another major project involves the development of a transport and logistics hub in Hungary, an agreement on which was reached last year. Kazakhstan’s KTZ Express is actively negotiating with Hungarian partners and China, with a joint memorandum expected to be signed soon.

Saparbekuly confirmed that Kazakhstan and Hungary have completed negotiations on the $100 million investment fund, with the official agreement to establish the fund at the Astana International Financial Center set to be signed shortly.

Earlier, Kazakh President Kassym-Jomart Tokayev held talks with Hungarian Prime Minister Tamás Sulyok during his official visit to Astana.