During the visit of the President of Kazakhstan to Hungary, Nurlan Zhakupov, the Chairman of the Management Board of Samruk-Kazyna, held a number of meetings with leading representatives of Hungarian companies and state organizations to discuss opportunities for enhancing cooperation.

In Budapest, Zhakupov met with Mr. Bence Katona, the Head of National Capital Holding (NTH). The parties have identified areas for investment and partnership development.

NTH is a Hungarian state organization that coordinates the management of public investment funds.

The prospects for cooperation with MVM Group, leading energy supplier of Hungary, were discussed at another important meeting.

The Chairman of the Management Board of Samruk-Kazyna discussed potential projects in the gas industry and nuclear energy with Mr. Karoly Matrai, the company CEO. MVM Group manages Paks NPP and is responsible for the key energy supply infrastructure in Hungary.

The oil and gas industry was also an important topic for discussion. Nurlan Zhakupov met with Mr. Zsombor Marton, Executive Vice President of MOL Group, to discuss further cooperation in the oil and gas sector.

The Head of the Fund also held negotiations with Mr. Laszlo Horvath, the President and CEO of LAC Holding.

As a result of the visit, a number of key documents were signed:

• the Cooperation Agreement between Samruk-Kazyna and National Capital Holding aimed at developing investments and partnerships;
• the Agreement between JSC NC KazMunayGas and MOL Group on enhancing cooperation in the petrochemical field and joint exploration and production of hydrocarbons;
• a Memorandum between JSC NC Kazakhstan Temir Zholy, LAC Holding and Xi’an Free Trade Port on the creation of an intermodal freight terminal in Hungary.

These steps are a significant part of the strategy on strengthening economic ties between Kazakhstan and Hungary.

Cover photo provided by Akorda press service