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MEMORANDUM OF UNDERSTANDING BETWEEN HUNGRIAN INVESTMENT AND TRADE DEVELOPMENT AGENCY IN BUDAPEST AND INDUSTRIAL DEVELOPMENT AND INVESTMENT CENTER IN TAIPEI ON INVESTMENT COOPERATION (AD.1999.07.29)
1.Signed on July 29, 1999; Entered into force on July 29, 1999.
The Hungarian Inverstement and Trade Development Agency in Buda-
pen hereinafter referred to as "ITDH", and the Industial Develo-
pment and Lnvestment Center of th Ministry of Economic Affairs
in Taipei hereinafter referred to as "IDIC", are:
．aware of the increasing economic interdependence of the world
and of the rapid development of management and business corpo-
．convinced that foreign direct investments contribute to the e-
conomic and social development of the countries receiving the
investments, and to the successful overseas operation of the
．conscious that providing corpoations with information on fore-
ign direct investment to each other is important in assisting
their sound and well-balanced overseas operations,
．aware that ITDH is in the position to encourage the economic
development of Hungary by investment and exrport promotion su-
pported by governmental fund3 and is able to provide such ser-
vces (marker information, match-making, project consultancy)
for bath foreign and local organizations,
．that IDIC is in close co-operation witb other relevant author-
ities in its country, and it assists and promotes the sound d-
evelopment of overseas direct investments by providing maket
and technologe information to pro~opootive investors both at
home and abroad.
In consideration of above, ITDGH and IDIC agree to exchange vie-
ws and information on direct investment opportunitues and the r-
elated regulations, preferences and subsidies in Hungary with t-
he exception of iaformation to be protected as confidential Sen-
ior officials of both Parties will meet periodically, or on an
ad hoe basis, as mutually convenient to both Parties, and regul-
ar contact will be established and maintained at working level
for current activities to foster cooperation with each other.
Funher,both Parries agre to develop the co-operative relationsh-
ip throung a vanery of acriviries to the mutual benefit such as
joint research on thee investment climare in Hungary, investiga-
ring such opportuniries and facilitating to establish contacts
on corporate levels.
For the purpose of co-ordinating and administering this agreeme-
nt each of the Parties will initiate their own offices in Budap-
est and in Taipei respectively and designate representatives in
inplementing these objectives.
Both Parties agree that nothing in this agreement shall he lega-
lly binding or enforceable or imposing any financial obligation
on either Party.
The Parties agree upon the regular evalustion and survey of the
results and next raks of co-operation. This is to be done in wr-
iting or in the course of prearranged meetings. The first evslu-
ation will take place latest by the occasion of the first prolo-
ngation of the agreement.
This Memorandum of Understanding shall be in force for one (1)
year from the date written below, and thereafter shall be autom-
atically extended on a year-to-year basis, unless either Party
hereto gives the other one (1) month prior written notice to te-
Done and signed in Budnpest on the 29th of July, 1999.
Dr. Tibor Melega 林能中
FOR THE FOR THE
Hungarian Investment and Trade Lndunstrial Development and
Development Agency in Budapest Investment Center in Taipei