ADVERTISEMENT

Economy minister pays impromptu visit to U.S.

Int’l Relations

Economy Minister János Kóka paid a low-key visit to the United States over the weekend to discuss future U.S. investments in Hungary, business daily Világgazdaság said on Monday. While the government spent the weekend at Lake Balaton thrashing out its reform agenda, Kóka made an impromptu flight to New York. Kóka said that he had been in discussions on substantive investment opportunities that had arisen during President George W Bush's Budapest visit last week. He confirmed the paper's information from its own unnamed sources that a U.S. services centre investment, creating 500 jobs, was being negotiated. Világgazdaság also reported that a "significant" autos sector investment was on the table from over the Atlantic. Kóka, however, said he did not want to comment on that in any way. But he did say a significant venture capital fund led by AIG was poised to enter Hungary's market. He is meeting American investment experts with the aim of preparing the ground so that Hungary is seen Economy minister pays impromptu visit to U.S. - as the potential site within in central and eastern Europe for services. So far Hungary has been on the receiving end of $9 billion of active U.S. investments, said the paper.

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.