U.S. ambassadorial nominee vows to promote democratic values in Hungary


At a confirmation hearing before the U.S. Senate Foreign Relations Committee on Wednesday, David B. Cornstein, President Donald Trumpʼs nomination for ambassador to Hungary, said he will focus on promoting American values and advancing U.S. economic interests in Hungary.   

The U.S. Embassy in Budapest

"First and foremost, I will encourage Hungarian officials at all levels of government to promote American and democratic values: the freedom of speech, the freedom of press, the freedom of religion are values that should not and cannot be compromised," Cornstein told the committee, as reported by Hungarian news agency MTI.

Cornstein said that he hoped to "advance our economic interests in Hungary," adding that "there certainly is room for existing American companies doing business in Hungary to do more."

Cornstein remarked that the Hungarian economy is "doing well" under Prime Minister Viktor Orbán, noting high GDP growth, low unemployment, the recently reduced corporate tax rate and high levels of FDI. 

The ambassadorial nominee added that he sees it as an "extremely important goal" to halt the rise of anti-Semitism in Hungary and the region.

"I am a very proud American Jew and it hurts and disturbs me deeply that this cancer continues to grow," he said.

A native New Yorker whose grandmother was Hungarian, Cornstein is chairman of Pinnacle Advisors Ltd., and was previously CEO, president, and ultimately chairman emeritus of Finlay Enterprise, a billion-dollar NASDAQ Stock Exchange Company.

Cornstein served as chairman of the one-time New York City Off-Track Betting Corporation and as vice chair of the city’s Economic Development Corporation. He earned his BA from Lafayette College and MBA from New York University.

The post of U.S. ambassador to Hungary has been vacant since the departure of Colleen Bell with the inauguration of Trump on January 20, 2017.


Sharp Rise in Energy Costs Putting Strain on Competitiveness Analysis

Sharp Rise in Energy Costs Putting Strain on Competitiveness

Parl't approves 2023 budget Parliament

Parl't approves 2023 budget

Danubius Hotels Appoints Group Director of Development Appointments

Danubius Hotels Appoints Group Director of Development

3 Downtown Districts Planning to Introduce 30 km/h Speed Lim... City

3 Downtown Districts Planning to Introduce 30 km/h Speed Lim...


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.