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Embassies criticize investment environment in Hungary

Nine embassies in Budapest on Wednesday issued a joint statement to call attention to the lack of transparency that they say negatively impacts Hungary's investment climate.

Foreign investors may be deterred by reports of “non-transparent behavior” in areas of public utilities, broadcasting and elements of Hungary's transport infrastructure, said the statement issued with the support of the embassies of the US, Belgium, France, the Netherlands, Japan, UK, Germany, Norway and Switzerland, and published on the UK embassy's website.

Signatories to the statement noted that the largest part of foreign direct investment was provided by their countries, and as “friends of Hungary” voiced hope that the country's investment climate would continue to make Hungary an attractive destination.

The statement also noted that passing, implementing and enforcing Hungary's new anti-corruption law could be instrumental in efforts to boost economic growth and prosperity in the country.

Responding to the statement, government spokesman Domokos Szollár said that the government considered it a key responsibility to strengthen the confidence of foreign investors.

Szollár noted that the government had restored the equilibrium of public finance, laid the foundations for future growth and that its economic policy was highly supportive of entrepreneurship. (MTI-Econews)