Hungarian Economy Minister visits Japan later this week
Friday, October 28, 2005, 10:11
During a visit to Japan, Hungarian Economy Minister János Kóka is scheduled to meet representatives from six leading Japanese companies in order to discuss investment proposals, including an electronics-sector deal worth over 50 mln, economic daily Világgazdaság reported. Kóka will travel on Thursday to Japan, where he will hold talks with government and corporate officials regarding further Japanese investment in Hungary. Deputy State Secretary for Investment and Trade Development Ábel
Garamhegyi declined to identify the six Japanese companies with which Kóka will conduct negotiations. Though he did say that three of them had already placed Hungary on their short list of possible expansion locations along with neighboring central and eastern European countries (Poland, the Czech Republic and Slovakia), adding that all three of the companies were already present in Hungary. The three other companies on the economic minister's Japanese agenda have already decided to make investments in Europe, though not specifically in the central and eastern European region, according to Garamhegyi. Japan is one of Hungary's largest foreign investors, having invested some $2 bln or approximately 5% of all foreign-direct investment in Hungary.