Groundbreaking ceremony held for new factory building of Biocombinat

2020-05-22 12:08:36

Ulaanbaatar /MONTSAME/. Minister of Foreign Affairs D.Tsogtbaatar and Minister of Food, Agriculture and Light Industry Ch.Ulaan participated in the groundbreaking ceremony for the new factory building of Biocombinat in Songino yesterday, on May 21. The ceremony was attended online by István Joó, Deputy State Secretary for Export Development of the Ministry of Foreign Affairs and Trade of Hungary, from Budapest.

The sides expressed satisfaction with the 70th anniversary of the establishment of diplomatic relations between Mongolia and Hungary is coinciding with the implementation of the project which has been underway for more than a decade, and reaffirmed their commitment to further expand and strengthen trade and economic cooperation.

Minister of Foreign Affairs D.Tsogtbaatar emphasized that the successful implementation of the project opens a new page in the economic relations between the two countries and provides an opportunity to start negotiations on the implementation of the next major projects with the loan financing of the Hungarian Government. Moreover, he thanked the Hungarian government for providing the largest number of scholarships to Mongolian students among European countries, and stressed the importance of cooperation between the two sides in training Mongolian youth in Hungary in specialties such as biotechnology, microbiology and pharmacy for the new factory.

For his part, Deputy State Secretary István Joó expressed Hungarian Government’s interest in providing soft loans and starting talks on further cooperation projects between the two countries.

The renovation project of Biocombinat will be implemented within the framework of the agreement on General Programme of Financial Cooperation established between the Governments of Mongolia and Hungary on January 25, 2016 in Ulaanbaatar. The project will enable the domestic production of an average of 10.0 million doses of FMD vaccine, 10-15 million doses of rabies vaccine and 20 million doses of smallpox vaccine per year, which will not only improve animal health but also reduce currency outflows.