US companies continue to place their trust in the Hungarian economy, and the government provides tax cuts and investment support to further improve the business environment, Finance Minister Mihály Varga told the US-Hungarian Business Council on Thursday.
The council met for the 6th time in Budapest, the finance ministry said in a statement. The top brass of 10 US corporations met Varga in the ministry building in Budapest, the statement said.
In his address, Varga noted that while last year’s meeting focused on job protection, this year’s agenda features the opportunities the Hungarian economy, which is expected to expand over 7 percent this year, offers to investors. “We count on US investors in our work to relaunch the economy,” he added.
The US is the largest non-EU investor in Hungary, with trade volume reaching 5.8 billion dollars in 2020, he said. Despite the coronavirus pandemic, US companies created some 2,500 jobs in Hungary in 2020, he said.
Featured photo illustration by Tamás Kovács/MTI