Egypt, Hungary sign five MoUs
Egypt, Hungary sign five MoUs for investment, agriculture, ICT, sports: Egypt and Hungary signed on Thursday five MoUs to increase investments and cooperation in agriculture, ICT, sports, and accreditation, according to an Investment and International Cooperation Ministry statement (pdf). The agreements were signed on the sidelines of the third Egyptian-Hungarian Joint Committee on Economic, Scientific, and Technical Cooperation.
Egypt and Hungary are also set to sign an agreement in the next week or so to supply the Egyptian National Railways with 1,300 railway cars, Hungary’s Parliamentary Affairs Minister Levente Magyar said, according to Al Mal. Hungary will amend the conditions of its offer ahead of the signing, according to Magyar. Transport Minister Hisham Arafat had said previously that the contract would be valued at around EGP 19-20 bn. The ministry had narrowed down the competition to two offers from a Hungarian-Russian consortium and a Chinese company.
Egypt, Sudan, Ethiopia agree on joint investment fund framework: Officials from Egypt, Sudan, and Ethiopia agreed on the goals and framework of a joint investment fund to finance development and investment projects, Al Mal reports.