Weekly newsletter

Szijjártó: Central Europe Poised for Competitive Advantage in Coming Years

MTI-Hungary Today 2020.08.31.

The central European region is in a position to gain a big competitive advantage in the coming years, Foreign Minister Péter Szijjártó told Hungarian reporters on the sidelines of the 15th Bled Strategic Forum, in north-western Slovenia, on Monday.

The novel coronavirus pandemic presents a historic challenge for the European Union, Szijjártó said, adding, at the same time, that the coming years “could be all about central Europe”.

The controversial but “extremely sensible” economic and immigration policies pursued by the central European countries will give the region a competitive advantage in terms of security, political stability and economic growth “that could allow us to be more successful in the global economic competition than Europe on average”, he said.

He said the coronavirus has triggered fierce competition for a redistribution of global economic capacities, adding that the pandemic had forced leading multinational companies to close down many of their plants and service centres around the world.

Future competition will be about attracting more investments and preserving jobs in a most effective way, Szijjártó said. Hungary is poised to enter that competition “with great self-confidence and a clear hope of success”, as a member of a central European cooperation, he said.

As a result of its reasonable economic policy including continued tax cuts, Hungary has become one of the most competitive investment locations in Europe, Szijjártó said, adding that the country’s aim was to maintain a high rate of investments and attract an increasing number of investment projects by multinational companies. Talks with excellent prospects are under way with several potential investors, he said, pledging to announce concrete projects in the next months.

Orbán: Europe in Trouble
Orbán: Europe in Trouble

Europe “is in trouble” as it has still not managed to define its new place in the global economy, the Hungarian prime minister said at an international foreign policy forum in Slovenia’s Bled on Monday. Europe has a hard time understanding that unlike the United States and China it is not capable of “fundamentally changing […]Continue reading

“A close cooperation with countries in central Europe will boost Hungary’s values and strength, and their success is also in Hungary’s interest,” Szijjártó said, adding that he discussed this objective with his Polish, Croatian and Slovenian counterparts in Bled.

featured image via Mátyás Borsos/MTI/KKM