ADVERTISEMENT

Szijjártó seals deals on expansions by U.S. companies

Pharma

kormany.hu/Márton Kovács

New agreements have been reached with American companies on capacity expansions in Hungary, Minister of Foreign Affairs and Trade Peter Szijjártó said in New York yesterday, Hungarian news agency MTI reported.

Szijjártó said the investments would be in the automotive industry supply segment, in financial services and in the IT sector, without naming any companies.

Szijjártó arrived in Dallas late Sunday, at the start of an official visit to the United States, and he travelled to New York yesterday. He participated at the inaugural meeting of the American-Hungarian Business Council in New York yesterday.

Szijjártó said the American-Hungarian Business Council was founded by eleven companies including Johnson & Johnson, Coca-Cola, Eli Lilly, Pfizer and Warburg-Pincus.

There are currently 1,600 U.S. companies operating in Hungary, which have so far invested $9 billion in the country, he added.

He noted that Eximbank will soon open a $550 mln line of credit to help boost U.S. investments in Hungary.

Szijjártó also held talks with UN Under-Secretary-General for Political Affairs Jeffrey D. Feltman in New York yesterday.

ADVERTISEMENT

Purchasing Managers' Index rises Analysis

Purchasing Managers' Index rises

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

New Jewish cultural hub opens in Budapest City

New Jewish cultural hub opens in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.