OTP Real Estate Investment Fund announced its intent to buy MOM Park. The transaction is pending approval by the competition authority.
The Hungarian Parliament approved the 2019 budget on Friday, winding up the summer session. The house also approved several tax changes, including a controversial levy aimed at punishing NGOs seen to be funding or promoting what the government defines as illegal immigration.
Foreign direct investment figures have been rising quickly in Hungary for the past few years, much of which is down to the work of the Hungarian Investment Promotion Agency. While the United States does its fair share in contributing to the country’s well-being in terms of FDI, there is still room for improvement. The Budapest Business Journal talked to AmCham CEO Írisz-Lippai Nagy about U.S. investments.
Hungarian Prime Minister Viktor Orbán met with his Israeli counterpart Benjamin Netanyahu in Jerusalem on Thursday, where he stressed the Hungarian governmentʼs zero tolerance policy with regard to anti-Semitism. Meanwhile, Minister of Foreign Affairs and Trade Péter Szijjártó met with various Israeli officials to discuss trade and investment issues.
The European Commission (EC) is launching an infringement procedure against Hungary over recent Hungarian legislation that criminalizes the promotion or support of what it terms “illegal immigration.” At the same time, the EC is referring Hungary to the Court of Justice of the European Union (CJEU) for non-compliance of its asylum legislation with EU law.