PODGORICA (Montenegro), December 20 (SeeNews) – Montenegro's economy ministry said Hungarian companies have expressed interest in investments in the country's energy sector.
Hungarian companies are interested in investing in an expansion of Montenegro's energy production capacity, the economy ministry said in a statement on Tuesday.
The installation of an undersea power transmission cable connecting Italy to Montenegro has attracted the interest of foreign companies, the ministry said after a meeting between economy minister Dragica Sekulic with Hungarian foreign minister Peter Szijjarto.
With a view to further enhancing trade relations, Hungary's Magyar Export-Import Bank and the Investment and Development Fund of Montenegro entered into a framework agreement to provide businesses with the funding needed to boost trade relations, the Hungarian foreign ministry said in a separate statement.
Hungarian businesses are engaged in important talks in Montenegro in the banking, energy and tourism sectors regarding further major investment opportunities, the Hungarian foreign ministry added.
Hungary's exports to Montenegro rose by 10.7% to 32.2 million euro ($38.1 million) in the first ten months of 2017, according to data by the Montenegrin statistical office.