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Gov't, AmCham sign strategic agreement

Hungary's government signed a strategic cooperation agreement with the American Chamber of Commerce in parliament yesterday. Foreign companies that invest in Hungary require the appropriate legal environment, Justice Minister László Trócsányi said at the signing.

"Our regulations must be clear, understandable and allow sufficient time to prepare for compliance," Trócsányi said. AmCham chairman Vilmos Benko said investor confidence was key for the business association. The agreement, a renewal of a framework contract established in 2011, serves this aim, he added. AmCham's 400 members account for 35% of Hungary's exports. They employ almost 180,000 people.