Pakistan and Hungary Sign Agreement to Enhance Economic Cooperation and Investment
Pakistan and Hungary have agreed to enhance economic cooperation and mutual investment, focusing on sectors such as agriculture, textiles, and electric vehicles. This agreement was made during a meeting between Punjab's Provincial Minister Chaudhry Shafay Hussain and Hungarian Ambassador Zoltan Varga. A business-to-business conference is planned to promote direct engagement between investors from both countries. The Punjab government offers incentives for investment, including tax exemptions and support for establishing businesses in Special Economic Zones.
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Pakistan and Hungary have agreed to enhance economic cooperation, particularly in Punjab, focusing on mutual investment in sectors like agriculture, textiles, and electric vehicles. This agreement was reached during a meeting between Punjab's Provincial Minister Chaudhry Shafay Hussain and Hungarian Ambassador Zoltan Varga, which included discussions on organizing a business-to-business conference.
The Punjab government offers special incentives, such as a ten-year income tax exemption and duty-free machinery imports for investors in Special Economic Zones. Hungarian companies are invited to explore opportunities, including setting up a battery recycling plant. A Hungarian investor delegation is expected to visit Punjab soon to strengthen trade relations.
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