Japanese companies plan big investments in Hungary

Trade

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Japanese companies will make "tens of billions of forints" of investments in Hungary in the coming months, Minister of Foreign Affairs and Trade Péter Szijjártó said after a meeting with Japan's Minister for Foreign Affairs Toshimitsu Motegi, according to a report by state news wire MTI.

Szijjártó told public media that those investments would be made in the food and automotive industries, adding that "significant developments" are planned at the Suzuki plant in Esztergom.

Last year, Japanese companies invested HUF 25 billion in Hungary, and those investments were backed by HUF 9 bln in government support, he added.

He said the government had decided to open a consulate in Osaka which will host the 2025 World Expo where Hungary will participate.

Szijjártó also noted that Hungary is pressing for an investment protection agreement between Japan and the European Union.

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