§ Mr. WardTo ask the Secretary of State for Trade and Industry what efforts his Department is making to encourage joint ventures between British and Hungarian companies and between British companies and Hungarian state enterprises.
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§ Mr. RedwoodMy Department is doing a great deal. We are providing companies with information about the legislative and fiscal framework for investment in Hungary. My Department also makes available to British business information about specific investment opportunities and details of Hungarian enterprises seeking joint venture partners.
DTI Ministers are actively involved. I myself have led a trade mission to Hungary, and the Secretary of State expects to visit the country next month with a group of business men. Together with the Foreign Secretary, I participated in a major conference on 22 May sponsored by my Department, the CBI and others to draw companies' attention to business and investment opportunities arising from western economic assistance to eastern Europe.
ECGD's investment insurance scheme has recently been expanded to cover eastern Europe; and the Government's know-how fund can now be used to provide support for pre-investment feasibility studies and training of prospective joint venture partners.