Indonesia-Hungary Investment Fund: What Is It?

By Editorial Team 17/02/2021
Assets
Summary

The Indonesian and Hungarian governments have agreed to create an Indonesia-Hungary Investment Fund to finance joint infrastructure projects between the two countries. The Indonesian Foreign Minister, Retno Marsudi, and the Hungarian Minister of Foreign Affairs, Peter Szijjarto, signed a Letter of Intent (LoI) on Tuesday (2/16), marking the collaboration between the two countries.

Retno Marsudi said that the creation of the Indonesian-Hungarian Investment Fund could pave the way for more cooperation in other fields. "Especially for increasing Hungary's participation in digital infrastructure projects, water treatment plants, and public works," she elaborated. Meanwhile, Peter Szijjarto confirmed that Indonesia-Hungary had signed an agreement on an investment fund of US$500 million. According to him, as the fourth most populous country in the world, Indonesia would play an important role in Hungary's foreign economic strategy.

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