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Szijjártó At AmCham Forum Announces 500 New Jobs And Strategic Agreement With Oracle

Ferenc Sullivan 2015.01.12.

Three new US investments will be arriving to Hungary shortly, Minister of Foreign Affairs and External Economic Relations Péter Szijjártó announced on Monday in Budapest.

The new investments, which will be officially announced in a few weeks’ time, are to generate over 500 new posts of employment and have a combined value of USD 15.5 million (HUF 4.17 billion, Mr. Szijjártó explained at a business forum organised by the Hungarian branch of the American Chamber of Commerce (AmCham).

The Minister also announced that the Hungarian government is to conclude a strategic partnership agreement with the California-based software development company Oracle in the coming week. Once the agreement is signed, Oracle will be the tenth US firm investing in Hungary with which the cabinet has concluded strategic partnership, MTI reports.

The press conference also saw the announcement of a cooperation agreement between the Hungarian American Chamber of Commerce and the Hungarian Investment Promotion Agency (HIPA). The agreement’s objective is to assist in encouraging US companies to invest in Hungary and stimulate effective dialogue between business life and governmental actors.

Mr. Szijjártó also said that it is in the Hungarian interest to settle open political issues with the United States as soon as possible, pointing out that a balanced relationship with the US in all areas is necessary for the success of Hungarian foreign policy and external economic strategy. He emphasised that Hungarian-US relations in the areaas of defence and economic issues are outstanding and open questions remain only in political cooperation. Concerns regarding Hungary are based on exaggerations, he said.

photo:éter Botár