Japanese companies plan big investments in Hungary

Trade

Photo by NINA IMAGES / Shutterstock.com

Japanese companies will make "tens of billions of forints" of investments in Hungary in the coming months, Minister of Foreign Affairs and Trade Péter Szijjártó said after a meeting with Japan's Minister for Foreign Affairs Toshimitsu Motegi, according to a report by state news wire MTI.

Szijjártó told public media that those investments would be made in the food and automotive industries, adding that "significant developments" are planned at the Suzuki plant in Esztergom.

Last year, Japanese companies invested HUF 25 billion in Hungary, and those investments were backed by HUF 9 bln in government support, he added.

He said the government had decided to open a consulate in Osaka which will host the 2025 World Expo where Hungary will participate.

Szijjártó also noted that Hungary is pressing for an investment protection agreement between Japan and the European Union.

Hungary Account Deficit at EUR 561 mln in Q4 Debt

Hungary Account Deficit at EUR 561 mln in Q4

Moldovan Pensions to be Increased as of April 1 World

Moldovan Pensions to be Increased as of April 1

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic... Appointments

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic...

Hungarian Wine Marketing Agency to Host Summit Drinks

Hungarian Wine Marketing Agency to Host Summit

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.