Minister Mihály Varga met with his Chinese counterpart in Beijing.Continue reading
The Minister of Foreign Affairs and Trade, Péter Szijjártó announced in Beijing that Chinese companies are investing EUR 15.2B (HUF 6000B) in Hungary, aiming to create approximately 25 thousand new jobs and introduce advanced technological standards.
During his visit, Minister Szijjártó held discussions with former Chinese Commerce Minister Zhong Shan, chairman of the Financial and Economic Committee of the National People’s Congress. He highlighted positive news about China’s economy, which expanded by over five percent last year and maintained this growth rate in the first quarter of the current year.
Mr. Szijjártó emphasized that China’s economic performance not only benefits China but also significantly impacts Hungary, alongside the German economy.
He pointed out that Hungary has become the primary destination for Chinese business investment in Europe, with EUR 15.2B (HUF 6000B) invested in the country, including ongoing factory construction projects. These investments are expected to generate 25,000 new jobs and bring advanced technology to Hungary, particularly in the automotive industry, where Chinese companies are global leaders.
Péter Szijjártó also highlighted the positive trend in bilateral trade, which exceeded USD 10B last year and is anticipated to continue growing.
Additionally, he noted the increasing presence of Hungarian companies in China, citing the success of the MVM (Hungarian energy supplier) subsidiary in securing significant investments.
The Minister expressed optimism about future collaborations with major Chinese companies, aiming to further boost employment opportunities in Hungary. He also mentioned plans to discuss diplomatic relations with China on the occasion of their 75th anniversary.
In conclusion, Mr. Szijjártó emphasized the mutual benefits of cooperation between China and Hungary in recent years, projecting a promising outlook for future collaborations.
Via MTI; Featured Image: Facebook / Szijjártó Péter