ADVERTISEMENT

Hungary Guest of Honour at World Power Battery Conference

Int’l Relations

Image by Shutterstock.com

Minister of Foreign Affairs and Trade Péter Szijjártó acknowledged the choice of Hungary as a guest of honor at the World Power Battery Conference in the Chinese city of Yibin in a video message posted on Facebook on Saturday, according to a report by state news wire MTI.

"I'd like to express my appreciation for the fact that Hungary has been invited as a guest of honor at the World Power Battery Conference. This is our honor. We are very happy that you have picked our country," Szijjártó said.

Hungary sees China, which is its "strategic partner", as a country from which it can benefit a lot, he added.

He called the government's Eastern Opening policy of seeking mutually beneficial cooperation with countries in Asia a "great success story". That policy has included incentives for Chinese investors to pick Hungary, with its investment-friendly environment and low corporate tax rate, for their bases in Europe, he added.

Chinese companies formed the biggest group of foreign investors in Hungary in 2020 and they are set to take the title this year again, he said.

Hungary has become a "meeting point" for investors from the East and the West, he added, pointing to Chinese battery makers that have brought their activities to Hungary.

Hungary was "honored" to announce local investments by Chinese battery makers Catl and Eve Energy, he said, adding that local investments by other big EV battery makers would be announced soon.

Hungary is now the fourth-biggest battery maker in the world and is set to become the second-largest when planned investments are completed, he said.

Batteries have become Hungary's number one export and contributed to the country's export record last year, he added.

He thanked Chinese investors for their demonstration of trust in Hungary and the Hungarian people, and said the country would continue to offer incentives to Chinese investors to expand their existing capacities or bring new factories to Hungary.

Gas Consumption Falls to 4.37 bln Cubic Meters in H1 Energy Trade

Gas Consumption Falls to 4.37 bln Cubic Meters in H1

AgMin Outlines Agricultural Priorities of Hungarian EU Presi... EU

AgMin Outlines Agricultural Priorities of Hungarian EU Presi...

AutoWallis’s Retail Sales See Continued Growth Automotive

AutoWallis’s Retail Sales See Continued Growth

Verzió DocLab Calls for Submissions, Offers HBO Development ... Art

Verzió DocLab Calls for Submissions, Offers HBO Development ...

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.