Two Chinese automotive industry suppliers are planning to invest an total of €30 million in Hungary, creating approximately 600 jobs in the country, Minister of Foreign Affairs and Trade Péter Szijjártó said today according to reports.
Speaking after the meeting of the Hungarian-Chinese Joint Economic Committee, which took place in Budapest today, the minister said that one of the investments is expected to involve a capacity expansion while the other could be a greenfield investment. Szijjártó did not name the two companies planning to invest, however, further details are likely to be announced in the coming weeks, according to reports.
Szijjártó said after the talks that Hungary remains the flagship for cooperation between China and Central Europe, Hungarian news agency MTI reported. Chinese Vice Minister of Commerce Zhong Shan added that bilateral trade between Hungary and China reached $3 billion last year, which is the highest in Central and Eastern Europe. China has always seen Hungary as one of its most important strategic partners in Europe, he stressed, according to MTI.